Humanity is in the middle of a massive global energy crisis, as you probably know by now. It’s been just revealed the fact that the repurposing of Bitcoin mining energy could help solve this. Check out more reports about the issue below.
Bitcoin mining heat and the energy crisis
As noted by the prestigious publication Cointelegraph, the innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining – this is what a report from Arcane reveals: the market’s potential to transform the energy industry.
It’s extremely important to note the fact that the flexibility behind running Bitcoin (BTC) mining operations can be vital to solving real-world problems. Another essential issue to note is that these problems are standing in the way of the energy industry. At least, this is what Arcane research suggests.
Energy requirements and Bitcoin industry
One of the biggest concerns that authorities raise when it comes to Bitcoin’s mainstream adoption is its energy requirements.
“Owing to low cost of reacting, Bitcoin mining complements the growth of wind and solar grids, which often produce unstable and non-controllable energy,” notes Cointelegraph.
Arcane research addressed the fact that the Electric Reliability Council of Texas, to date, has only allowed BTC miners to take part in the most advanced demand response programs.
Besides being flexible to grid demands, Bitcoin mining is also able to help solve issues related to gas flaring. This is the process of burning natural gas associated with oil extraction. Check out more info on the subject in the original article posted by Cointelegraph.
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $19,777. The crypto market is struggling to recover following the recent price losses. Stay tuned for more news from the crypto space.