![]() The electricity produced must be consumed or literally wasted by sending it into the ground. Nuclear power, however, is a base load energy generator you can’t really ramp it up and down. In my humble opinion, the only way forward for a truly sustainable energy system is one that is based on nuclear power. It’s a viciously competitive industry, but what if it wasn’t? What if mining became a service rather than a standalone business? Service One: Elimination Of Variable Load Energy Sources If the bitcoin price goes down and/or costs go up, miners get squeezed and go out of business. Right now, we see miners as standalone companies, buying electricity on the markets from electric companies. There’s simply not enough storage capacity to keep the system running when the sun isn’t shining or the wind isn’t blowing.īitcoin, of course, fixes this. It’s also why intermittent sources like wind and solar will likely never be a sole source of power for the grid. Simply put, once your battery is full, there’s nowhere else for the energy to go which ultimately leads to power curtailment. There are a few techniques to store excess energy such as pumped storage hydropower, but they all have limitations such as access to water, space and battery technology. I want a home that heats up and pays me when I heat it. Why would you want to buy a home that wastes electricity by simply heating it? That’s old school. The little bitcoin that is mined is simply an added benefit for upgrading your system or an incentive for builders to put into new homes. Bitcoin mining heating applications, especially at the retail level, simply need to use the same amount of electricity or less than their non-mining competitors. The use of the newest generation of ASIC chips for heating purposes is not necessarily needed, nor desirable. When utilizing dual purpose applications and harnessing the heat originally characterized as waste, the applications don’t need to be profitable in the traditional sense anymore. This changes the home mining-profitability math completely. They utilize their waste heat from the miners to heat local businesses like breweries, sea salt distilleries and even greenhouses. MintGreen in Canada is already doing this at a pretty large scale. ![]() I see a future when every furnace and water heater produced utilizes ASIC chips as the heating element rather than the traditional electrical resistor types that exist today. Imagine the applications you could build utilizing Bitcoin-specific ASIC chips. In terms of miners, their main waste product is heat.
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