Good stuff. A 1% savings, but that's does help people's ACs stay on. Texas really should start bumping up their capacity though. It's only going to get hotter.
https://www.rechargenews.com/energy-transition/rampant-solar...
> As of 30 September [2021] developers had 100.3GW of solar capacity in the queue, 42.4GW of utility-scale battery storage, 22.5GW of wind, 13.5GW of natural gas and minor amounts of other technologies such as biomass.
I suppose it's good news, but also it's a bit ridiculous that 1-2% (or more) of the entire State of Texas' summer energy usage is being wasted on mining cryptocurrency.
Now, if they're still running during peak periods, that's an issue and miners should pay through the nose for it. Treat them like aluminum smelters and force them to cozy up next to hydroelectric dams to siphon off electricity before it even hits the grid.
Maybe if energy consumption was way lower than expected, the baseload generation like geothermal and nuclear might need to dump free power. That would be an event though not a normal condition.
Otherwise you are really, really wrong.
If you would price in co2 creation for no real value you would see that for society (most of us like 99,99999%) it's a net negative.
It also derails investment which would make more sense as the Bitcoin market is decoupled from the normal market.
The local smelter or papermill or any other energy intense industry has to play by totally other rules that Bitcoin.
The fact that they claim that they should down their miners is also not even proven and should make it very unrealistic.
Miners loose tremendous amount of money while not running. They can't afford to just not run for a long period.
And I have seen mining rigs in Texas who uses ac to cool down their shit.
They consume even more.
We start to be smart and accept that energy needs to be used for things helping people not gamblers.
They can make deals with energy intense industries.
Or invest in energy storage or just be more creative about it than trying to appeal to miners.