Bitcoin mining is suitable for renewables

Bitcoin mining is converging with the energy sector with amazing rapidity, yielding an explosion of innovation that will both decarbonize bitcoin in the medium term, and will dramatically benefit increasingly renewable grids. What’s more, it appears that only bitcoin – rather than other industrial load sources – can actually achieve some of these goals.

Bitcoin enthusiasts have long maintained that bitcoin mining could drive a clean energy transition. The logic went as follows: Bitcoin miners voraciously buy the cheapest sources of energy available; renewable (wind and solar) sources of energy are getting progressively cheaper and will soon outmatch thermal energy on cost; bitcoin miners will therefore subsidize the buildout of renewable energy, benefiting everyone.

Case of Study: Potential application of Vertical Axis Wind Turbines in HUT8 Operational Centers 

Hut 8 currently has two data mining centers located in Alberta, Canada, which allows to harness the power of Alberta’s diverse energy sources. These mining centers mine efficiently and in an environmentally conscious manner through an abundance of gas, wind and green energy. Operating in areas with freezing cold temperatures and high winds, which are optimal mining conditions.