Five Factors Making Bitcoin Miners Unique Energy Consumers
Bitcoin miners are uniquely flexible energy consumers we can use as energy tools to help solve several energy problems.This is an opinion editorial by Jaran Mellerud an analyst at Arcane research focusing on Bitcoin mining.Most people disregard bitcoin miners as simply yet another energy-intensive industry, but there is one big difference: Bitcoin miners are uniquely flexible concerning when and where they consume energy. Arcane Research's new report titled "How Bitcoin Mining Can Transform the Energy Industry" found five factors making bitcoin miners unique energy consumers, which I will....
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Bitcoin miners, being the unique power consumers they are, can be a possible solution to the problem of renewable energy waste. Bitcoin Mining Can Be Utilized To Use Up Excess Power Produced By Renewables As per the latest weekly report from Arcane Research, the flexibility of BTC miners means they can help mitigate wastage produced […]
The Energy Secretary of Argentina eliminated power subsidies for cryptocurrency miners, raising the cost of energy to almost 4x what the miners were paying before. The measure affects customers of the wholesale power market in the Tierra del Fuego province, one of the provinces more notably occupied by miners in the country due to its specific climate characteristics.
Argentina Eliminates Subsidies for Cryptocurrency Mining
The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners. This is the decision that the Energy Secretary....
The European Commission (EC) released an update on the energy strategy to be adopted by the European Union in the coming years; this might bring significant changes for Bitcoin miners and crypto miners. The Commission is moving forward with the European Green Deal and intends to improve the region’s energy efficiency by integrating renewable energy […]
The use of renewable energy for cryptocurrency mining has seen considerable growth, according to a new report. The rising energy demand of proof-of-work cryptocurrencies such as Bitcoin (BTC) has been a hotly debated topic. But the 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge shows that 76% of cryptocurrency miners use electricity from renewable energy sources as part of their energy mix.The study found that over 39% of the total energy consumed by PoW cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and others comes from renewable energy....
Energy usage is not something from which we should shy away. Bitcoin miners are already doing the hard work that is making the world a better place.