“What I like about Bitcoin It’s about not only avoiding damage, but rather operating in an additive way. ” clean spark CEO Zach Bradford told me in an interview discussing the impact of Bitcoin mining on the grid and community.
CleanSpark is a publicly traded Bitcoin mining company that uses a combination of nuclear, hydro, solar and wind power to mine Bitcoin. “One thing that is often lost in the sustainability debate is the purpose of sustainability. We are not just using low-carbon energy for a purpose, but rather doing it to have an impact,” Bradford said of their intentions. explained.
Bradford said the U.S. grid is more fragile than many realize and will require significant investments to restore its resilience. The unique power consumption characteristics of Bitcoin mining make it a perfect complement to underutilized or scarce power sources.
In addition to creating jobs, CleanSpark has invested hundreds of millions of dollars in local communities, funding projects ranging from substation upgrades to power line and pole replacements.
There are many Bitcoin miners who use sustainable energy sources or waste energy. These carriers have a positive impact on the environment, grids and communities around the world. Here are just a few examples of how they are making a difference.
Cully Cavness is Co-Founder, President and Chief Operating Officer of Crusoe energy. Prior to co-founding Crusoe, Cabness held leadership and management positions in the upstream oil and gas and geothermal energy industries as well as energy investment banking.
Crusoe started by harnessing methane that oil and gas companies had previously had to burn. In doing so, the methane is burned in a more thorough manner, reducing emissions. Crusoe is also working with wind and solar to build data centers to smooth the production curve and reduce strain on the grid.
“Bitcoin can be a great tool for reducing methane emissions,” Cavness said in an interview. Crusoe’s team said it will cut more than 4 billion cubic feet of natural gas flaring in 2022, mitigating 6,400 tons of methane emissions, reducing more emissions than it generated, leading to net negative emissions.
Crusoe is now expanding its data center services to cloud and AI computing. They recently started operations in Argentina as well. This is a potentially vital lifeline as the country’s crisis continues. currency crisis.
Kerri Langlais is Chief Strategy Officer at TeraWulf Inc., a publicly traded Bitcoin mining company that also uses zero carbon energy sources.
Langre said in an interview that TeraWulf will only place facilities where there is an imbalance between supply and demand. In doing so, she says, you can create a symbiotic relationship with the grid and grid operators.
As an example, TeraWulf recently became the first in the United States to be directly connected to a Bitcoin mining facility. Nuclear power plant. Langlais calls TeraWulf an energy sink. This is what makes use of the electricity that is generated, otherwise it would be unused and not paid for.
In doing so, TeraWulf increases the utilization of power plants during periods of low demand, spreading fixed costs over a larger consumption pool and reducing costs for consumers.
“Having built a career in harmonizing the relationship between humanity and the planet, I couldn’t have found a better place to focus my work,” Kent Halliburton said in an interview in the renewable energy sector. He spoke while mentioning his experience so far and his newfound passion for Bitcoin.
Halliburton is the President and Chief Operating Officer (COO) who oversees the development of the Bitcoin mining business. Sazamina company that provides individual investors with an easy way to invest in Bitcoin mining.
Halliburton said that after learning about Bitcoin and recognizing the powerful synergy between the two worlds, he abandoned his previous career to focus on renewable energy bitcoin mining.
Like TeraWulf, Sazmining consumes surplus power from hydroelectric facilities. Halliburton says it is focusing on hydropower because of its low cost and high reliability.
As bitcoin mining permeates the energy industry, it has the potential to revitalize rural America and boost development in the global South while reducing emissions and strengthening existing power grids.
The incentives are complex, but the results are beginning to become apparent. Bitcoin mining is here to stay and may just be what you need to modernize your energy infrastructure.