While some experts say there's potential for positive impact from crypto mining, most agree there are few indications that the industry is going in the right direction. 📝 andrewrchow
If crypto companies aren’t yet supercharging a renewables boom, then maybe they’re helping other ways, like making our electricity grids more resilient. Thiel argues that crypto miners are uniquely suited to help grids for several reasons: that they can be turned off quickly during peak hours of energy usage in a way that, say, pasteurization machines can’t; that they can soak up energy from the grid that would be otherwise wasted; that they can be located very close to sources of energy.
But Rhodes and others are skeptical that most miners will be willing to operate on someone else’s schedule. Crypto miners have shown that in order to maximize their profits, they would much rather operate 24/7. Strohmaier, in Montana, says that when he met with crypto miners operating in his county about their activity, the topics of grid resilience or curtailment “never came up once. We never got the sense there was any willingness to scale back even for a nanosecond of what they were doing.
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