Crypto Advocates Mention Bitcoin Mining as a “Critical Tool” for Clean Energy and Balancing Grid
A number of crypto advocates have emphasized the significance of Bitcoin (BTC) mining as a “critical tool” for clean energy usage and grid balancing.
In a recently published working paper titled “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency,” Bitcoin advocates and former ERCOT (Electric Reliability Council of Texas) President Brad Jones highlighted numerous benefits of BTC mining.
The paper argued that the incorruptibility and rapid load response capabilities inherent in Bitcoin mining can enhance grid flexibility, facilitating the integration of variable renewable energy sources.
BREAKING: New working paper co-authored by former ERCOT & NYISO CEO, highlights #Bitcoin mining as a critical tool for clean energy and balancing the grid. pic.twitter.com/86pXuQ1XxL
— Dennis Porter (@Dennis_Porter_) November 27, 2023
The authors of the paper include Nic Carter, partner at Castle Island Ventures, Dennis Porter, CEO of Satoshi Action Fund, Murray Rudd, Science Advisor, and the late Brad Jones.
Shaun Connell, the Executive Vice President of Power at Houston-based tech company Lancium, also contributed to the research.
The paper offered case studies illustrating how Bitcoin miners in Texas have participated in demand response programs and offered grid services, showcasing their unique abilities as flexible and controllable loads.
The findings of the paper challenge the claims made by anti-crypto politicians who have often pointed fingers at Bitcoin miners for their alleged high energy usage and strain on grids.
Senator Elizabeth Warren and several other Democrats previously pressed ERCOT for information on the electricity consumed by Bitcoin mining operations.
However,
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