A lot of concern about Bitcoin is the environmental impact. This environmental impact is real. We use a lot of energy for Bitcoin BUT this is also a good thing?
Climate change is the challenge of this century, we shouldn’t scoff at criticism regarding Bitcoin in that regard BUT there are positive aspects that we should take into account.
# Bitcoin Mining is the best industry to be paired with Renewable Farms.
In the United States, most renewable farms are wasting energy when demand is low and production is high. To stay profitable, these farms need a flexible customer who can buy cheap energy that no one wants.
The Usual deal was to pair them with DataCenters but data centers are less flexible than Bitcoin miners. They were providing a baseline which is good for renewable farms but lacked the ability to shut down their activities.
Nowadays, more and more Bitcoin mining operations are built with Renewable farms. More and more of these contracts are made so that the Bitcoin Mining business will be flexible by shutting off some rigs when demand is high and turning on more rigs when demand is low.
This flexibility is allowed by the fact that older hardware is not as energy efficient in terms of Energy/Hashrate. Which means, when the price of energy gets lower, the mining operation with older rigs becomes profitable.
The symbiotic relation between renewable farms and Bitcoin mining is making a lot of farms viable, allowing for carbon free electricity in other sectors.
While, yes [Some miners are going in the opposite direction]( The vast majority of miners are moving into renewable. This symbiotic relation is so intense that industry insiders were saying that most renewable farms project are now approached by multiple mining business even before they start producing energy.
Now I don’t ask you to take my word for it: Go and listen to [The crypto hearing where industry insiders spoke under oath]( you’ll see how the industry is moving.
Bitcoin may provide a solution for a more sustainable future if this trend continue.
5 thoughts on “Bitcoin and the environment: A small argument in favor of Bitcoin.”
The argument of “crypto is bad for the environment” will go away when we shift to renewables and most cryptos shift to PoS. It’s still gonna spread FUD rn
And all those big factories polluting the world? Why don’t people talk about them?
Bitcoin mining and growing weed. Best business idea ever
With green energy and more energy efficient chips we will slap that fud away real soon. It’s a joke how much media attention we are getting on that.
We need everything, including crypto, to shift to renewable sources of energy. Unfortunately the world’s biggest polluters are transitioning so slowly that it’s hard to be optimistic about humanity surviving the climate crisis.