As a climatetech investor, I have seen over 200 technologies and innovations. But the leading one by far in terms of its ability to create an immediate positive environmental externalities is Bitcoin mining, because
1. It uses existing, proven technology
2. It can solve problems (such as mitigation and wasted renewable energy) profitably, which other technologies simply cannot
3. It is modular, relatively low budget, rapidly scaleable and does not need government incentives and subsidies to make it viable
4. It creates positive social consequences in parallel as an organic byproduct of using the technology (such as reducing residential power prices, helping grid operators stabilize grids, obviating the need for gas peaker plants and expensive grid upgrades, and mitigating the negative impacts of putting addition AI load onto grids). It also helps renewable operators with the current backlash they are facing due to the high levels of waste energy they are not able to sell (with costs that are often picked up by the grid operator via curtailment payments).
This is why 7 out of 7 of the grid operators we know of that have experimented with Bitcoin mining have embraced it and are looking to scale up its usage on the grid.
1. It uses existing, proven technology
2. It can solve problems (such as mitigation and wasted renewable energy) profitably, which other technologies simply cannot
3. It is modular, relatively low budget, rapidly scaleable and does not need government incentives and subsidies to make it viable
4. It creates positive social consequences in parallel as an organic byproduct of using the technology (such as reducing residential power prices, helping grid operators stabilize grids, obviating the need for gas peaker plants and expensive grid upgrades, and mitigating the negative impacts of putting addition AI load onto grids). It also helps renewable operators with the current backlash they are facing due to the high levels of waste energy they are not able to sell (with costs that are often picked up by the grid operator via curtailment payments).
This is why 7 out of 7 of the grid operators we know of that have experimented with Bitcoin mining have embraced it and are looking to scale up its usage on the grid.
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