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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    ETH Daddy Discusses Ethereum and AI

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  • Guides
    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

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    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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    How It Works and What to Watch Out For

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    Crypto Risk Management Strategies for Trading (2025)

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    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    A Full Comparison of Layer 2 Solutions

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

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    Volume Plunges While Transactions Soar

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Boxed Memecoins as Collectible Toys

    Boxed Memecoins as Collectible Toys

    Hype fades as NFT platforms lose users

    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    What are Floki’s Flokitars?

    What are Floki’s Flokitars?

  • Gaming
    ChatGPT vs X: Who Sees Crypto Narratives First?

    ChatGPT vs X: Who Sees Crypto Narratives First?

    Why AAA Game Studios Will Eventually Embrace NFTs

    Why AAA Game Studios Will Eventually Embrace NFTs

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    Less Hype, More Utility: 5 Ways NFTs Are Rebuilding in 2025

    Less Hype, More Utility: 5 Ways NFTs Are Rebuilding in 2025

    ‘OpenSeason’ Crypto Game Goes Offline as Devs Pivot to Gambling on Nudity

    ‘OpenSeason’ Crypto Game Goes Offline as Devs Pivot to Gambling on Nudity

    Off The Grid studio unveils Solana cofounder-inspired skin

    Off The Grid studio unveils Solana cofounder-inspired skin

    Web3 Powerhouses Fabwelt and LoveBit Unite to Drive Purpose-Driven GameFi

    Web3 Powerhouses Fabwelt and LoveBit Unite to Drive Purpose-Driven GameFi

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    A Full Comparison of Layer 2 Solutions

    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

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Home Mining

Crypto Advocates Mention Bitcoin Mining as a “Critical Tool” for Clean Energy and Balancing Grid

November 28, 2023
in Mining
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Crypto Advocates Mention Bitcoin Mining as a “Critical Tool” for Clean Energy and Balancing Grid
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Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

A number of crypto advocates have emphasized the significance of Bitcoin (BTC) mining as a “critical tool” for clean energy usage and grid balancing.

READ ALSO

BIT Mining’s strategic leap into Solana propels stock to 3-year high

Bit Mining Shifts Strategy, Enters Solana Ecosystem With $300M Plan

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.

Miners in Texas Helped Tackle Growing Demand for Electricity

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.

See also  Miners Offload Bitcoin in Anticipation of Reward Halving, Says Cryptoquant

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, the researchers argue that Bitcoin miners can actually play a vital role in demand response, contributing to the technical and economic stability of the grid.

Addressing the comprehensive impact of Bitcoin on global energy demand and climate change, the researchers acknowledge that the situation remains complex.

However, emerging data suggests that the effects of Bitcoin mining might be more nuanced than commonly believed.

A recent study from Cornell University demonstrated how wind and solar projects can benefit from Bitcoin mining during their pre-commercial development phases.

The sustainability of Bitcoin mining has been improving thanks to various innovations.

Hydro-cooling farms and the utilization of associated petroleum gas have contributed to making Bitcoin mining more environmentally friendly.

Furthermore, reports from September indicate that over 50% of Bitcoin’s energy usage comes from clean energy sources.

Miners Reap Rewards as Halving Looms

Crypto miners have been enjoying increased rewards amid the recent surge in crypto prices, with their average daily revenue rising to around $32 million over the past month.

The hashrate, a measure of the computational power needed to mine a coin, has reached an all-time high, indicating that miners are using more powerful computers to crack the complex maths puzzles that earn them a Bitcoin.

According to the mining data platform Hashrate Index, a measure of miners’ earnings from using 1 petahash per second of computing power in a day has risen to over $81 from $70 at the start of November.

See also  hashrate reaches new highs pre-halving

Meanwhile, the anticipation of a spot ETF approval has led to a surge in Bitcoin’s price in recent weeks.

The cryptocurrency rallied towards $38,000 late yesterday, driven by market speculation surrounding the potential approval of a spot ETF.

Tags: AdvocatesBalancingBitcoinCleanCriticalCryptoEnergyGridMentionMiningtool

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

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MATIC market cap currently at $6.8 billion. Chart: TradingView.com

MATIC market cap currently at $6.8 billion. Chart: TradingView.com

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Bitcoin mining sector expands as ASIC count surged 7% in 2024: report

Bitcoin mining sector expands as ASIC count surged 7% in 2024: report

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Magic Eden Expands Into Crypto Trading With Slingshot Acquisition

Magic Eden Expands Into Crypto Trading With Slingshot Acquisition

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Ethereum apes Microstrategy’s pattern: What are odds of $14K in 2025?

January 6, 2025

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