How Bitcoin Mining Can Help Balance Electricity Grids
It’s not a silver bullet, but it has a key role to play.
Non-members can read the full story here.
The rapid rise of solar PV and wind farms across much of the developed world has contributed to excess power for many grids during the middle of the day.
Whilst this sounds great, it can be problematic due to major or rapid fluctuations in supply. There are many instances of excess amounts of solar or wind power not being harvested without sufficient battery storage, thus going to waste.
What’s one solution to help regulate the load on these grids?
ASIC miners, which are specialised machines required for creating new Bitcoins.
How can ASIC miners help?
Part of this involves boosting demand when it is relatively low and can rapidly scale back operations when renewable energy (RE) supply dwindles, e.g., when the sun isn’t shining or when there’s insufficient wind.
Mining companies need to be strategic about where they build their infrastructure to fully exploit an overabundance of solar arrays, wind turbines or hydroelectric dams. I say “overabundance” as there needs to be a balance between meeting these companies’ requirements…
