Bitcoin

How Bitcoin Mining Strengthens Power Grids

How Bitcoin Mining Strengthens Power Grids

The House Hearing on the Use and Impact of Crypto Energyheld on January 20, 2022, was ultimately championed by a stellar defense of Bitcoin’s energy consumption by Brian Brookswith a particularly enlightening testimony from a John Belizairefounder of Computer Soluna. Belizaire and Brooks both presented concrete examples of how Bitcoin mining is used today to not only provide flexible income to utility providers and power generators, but also to ensure the stability of said networks. . This is accomplished by mine operators entering into agreements with these energy providers to shut down mining operations during times of high demand. I covered these points in April 2021 with my Bitcoin Magazine debut here.