OPINION | Cryptocurrency mining could provide electricity demand when prices would otherwise dip to zero or negative, helping renewable energy sources remain pr
Why don’t we store it and use it another time? Or we let other type of more meaning electricity demand do the load shifting?
Of course, if you are doing the computation for some vital services, it make sense to do VRE availability based demand side management as much as possible. But doing computation for some proof of work algorithm is basically computing for the sake of computing more, and I just cannot grasp the rationale behind it.
And this type of article reinforce the “too much renewable” myth. The problem is conventional power plants are still getting in the way and there is insufficient amount demand response and storage. The problem is not too much wind and solar.
Why don’t we store it and use it another time? Or we let other type of more meaning electricity demand do the load shifting?
Of course, if you are doing the computation for some vital services, it make sense to do VRE availability based demand side management as much as possible. But doing computation for some proof of work algorithm is basically computing for the sake of computing more, and I just cannot grasp the rationale behind it.
And this type of article reinforce the “too much renewable” myth. The problem is conventional power plants are still getting in the way and there is insufficient amount demand response and storage. The problem is not too much wind and solar.
This option is NOT available everywhere, and that is where bitcoin mining shines. See e.g. Gridless.
That’s why you invest in those storage options - not some GPUs to convert the energy to produce waste heat
Again, that option is NOT available everywhere. Brain, turn it on.