Bitcoin Miners can SUPPLY power to the grid?!
Watt? #btc #energy #banking #grid #kWh #learn
Energy prices correlate to energy availability, supply and demand
But the grid needs to remain stable to remain operational.
Bitcoin miners can confidently consume power, but also relinquish it back to the grid when needed.
Dynamic (Intermittent) Power supply, needs dynamic flexible power demand.
Video Transcript
Bitcoin miners supply and demand electricity let me explain typically Bitcoin miners demand energy they’ll buy their energy cheap in a contract say 5 cents run the electricity through their mining machines to produce hash power and turn that into 12 cents of Bitcoin per kilowatt but then you might be wondering
How on Earth are Bitcoin miners supplying energy to the grid let me show you bit coin miners have three things at their disposal they have an energy contract locked in at a cheap rate their computers and obviously the Bitcoin that they can produce with that kilowatt so
The value of that kilowatt to a minor has 12 cents but what if the price of energy on the grid was to rise to 15 cents instead of mining Bitcoin they could switch the machine off and Supply that power back to the Grid at 15 cents selling the price of energy down and
Stabilizing the grid
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