![]() For example, manufacturing and deploying solar panels and batteries requires energy-intensive mining for minerals from the earth, using toxic chemicals, and burning significant amounts of energy in the manufacturing process as well. One important point to mention before we get into the financial analysis is that the “clean” and “dirty” descriptions of various energy sources can be misleading without deeper context. Missing Context in the “Green” Energy Conversation In this article, I’ll share my findings along with some commentary on the whole “green” bitcoin topic. And so, as I saw solar getting mentioned more often lately, my curiosity got the best of me and I decided to do some analysis to determine its viability. While I’m already aware of bitcoin mining being used for curtailment of surplus hydro, geothermal, nuclear, and wind energy, I hadn’t heard of it being done at any noteworthy scale for solar energy. Among this knowledge is the possibility for bitcoin to incentive renewable energy development around the world by providing a means to monetize surplus energy which would otherwise be wasted. ![]() Uninformed hit pieces in mainstream media publications, controversial Elon tweets, and the 100th iteration of China bans have all shined a spotlight on mining and made once-rare knowledge about the industry’s dynamics now somewhat commonplace for Bitcoiners. ![]() Just 6 months ago, I wrote an article for Bitcoin Magazine titled The Next 10 Years of Bitcoin Mining which described how the mining industry is rapidly evolving as large institutions, energy producers, and governments become increasingly involved.Ī lot has happened since then. Written by Daniel Frumkin - any opinions expressed in this piece are his own. ![]()
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