Renewable energy is intermittent. When the wind blows at night, but everybody is sleeping, it’s wasted. This is where miners come into play, soaking it up, and making these green providers money they otherwise wouldn’t have, thereby subsidizing them to build more, or to invest more in R&D.
Grids waste anywhere from 10%-60% of their total energy. Miners help stabilize these grids soaking up excess, lowering energy costs for everyone. They can then power off in seconds whenever a surge in demand is needed because a nuclear plant or solar facility suddenly goes offline. No other industry in the world can do that.
Uncapped gas flares emit methane. Miners absorb this waste and reduce methane.
Basically, bitcoin mining can scale 20x and use ZERO energy annually.
Ercot in Texas has so much solar and wind coming online in the next 3 years, that they believe energy costs will go close to zero, because they have enough baseload from nuclear. There’s a concern that the green providers won’t have enough incentives and might pull out of contracts. Guess who’s showing up to make sure that’s not the case? Riot Blockchain just announced a 1GW mining build-out. Miners are incentivizing green energy and effectively creating an over abundance. When you have an over abundance of energy the greatest thing in the world starts happening: you look at all the products, industries, and experiments that are not economical because they required too much energy input, and suddenly that barrier is removed. Innovation goes wild.