Arcane research suggests that Bitcoin (BTC), mining operations can be run with flexibility to solve real-world problems.
When it comes to Bitcoin’s widespread adoption, the energy requirements are a major concern. Arcane’s report reveals that while innovations in chipset manufacturing have reduced operational costs for Bitcoin mining, they also reveal the potential market to transform the energy sector.
Bitcoin mining is a great complement to the growth of solar and wind grids. These grids often produce unpredictable and uncontrollable energy. Arcane research shows that bitcoin miners have been denied access to the Electric Reliability Council of Texas’ most advanced demand response programs.
Bitcoin mining is flexible enough to meet grid demand, but it can also solve problems related to gas flaring. This is the burning of natural gas in order to extract oil.
Arcane explains that miners can set up operations next to oil wells by taking advantage of the modularity, agnosticism and portability of Bitcoin mining rigs.
By repurposing heat, bitcoin mining can help the energy sector. This heat can be used to heat homes, factories, and other areas during winter. Important to remember that 40% of CO2 emissions worldwide comes from heating.
There are many benefits to repurposing heat from Bitcoin mining, such as operational subsidies and lower heating bills.
Related: US lawmakers appeal directly at 4 mining companies, asking for information on energy consumption
This research is crucial at a time of record inflation in Eurozone, which was 9.1% during the gas and energy crisis.
Cointelegraph reported that energy prices accounted for the greatest price push. They have risen at an annual rate 38.3% in the last month.
Eileen Wilson –Technology and Energy
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