Bitcoin Mining Seen As Tool To Support Renewable Energy Grids

According to Odaily, Robert Kennedy Jr. recently expressed in a letter to The Economist that Bitcoin mining is a powerful new tool to support renewable energy-intensive grids. He highlighted that while power grids are under pressure from manufacturing, electric vehicles, and data centers, Bitcoin mining's electricity usage pattern differs from traditional consumption and can positively impact the grid. Kennedy emphasized that unlike data centers and similar facilities, Bitcoin mining operations only run when electricity is cheap and abundant. When electricity becomes scarce and prices rise, mining operations can reduce their consumption within seconds. Additionally, Kennedy noted that Bitcoin miners actively participate in demand response programs, allowing grid operators to control their electricity usage to stabilize the grid. The involvement of Bitcoin miners in these programs helps bid in open markets, reducing electricity costs for consumers.