Why Bitcoin Could Be The Key For The Future Of Clean Energy
Much has been said lately about Bitcoin’s impact on the environment. Mainstream media has been especially keen on declaring BTC’s consensus mechanism (Proof-of-Work) a potential danger for the future of the planet.
A White paper published by Square and ARK Invest, as part of “The Bitcoin Clean Energy Initiative”, makes the opposite case and argues Bitcoin is in fact a “key driver of renewable energy’s future”. The research paper claims Bitcoin mining along with renewable energy to facilitate an “energy transition”.
Thus, energy asset owners could become the “bitcoin miners of tomorrow” operating a resilient electricity grid. BTC miners have certain characteristics which can sustain this new energy model. First, miners are geographically agnostics, with a “flexible and easily interruptible load”, as the White paper claims.