Oddbean new post about login | logout BTC miners are ideal energy consumers, but regulators need to catch up — Hive According to Hive’s CEO, data centers have the potential to enhance grid stability, especially as the transition to renewable energy introduces more volatility into power systems. https://image.nostr.build/b2dc3b346236062dca54f2f559d26412435276aca538925ea0a29cd096e34bad.jpg
Recent estimates indicate that Bitcoin mining globally consumes between 67 TWh and 240 TWh of electricity annually, highlighting its substantial energy footprint. In the U.S., cryptocurrency mining is estimated to account for 0.6% to 2.3% of total electricity consumption, raising concerns about its impact on energy resources and climate goals
Despite the potential benefits of Bitcoin mining for energy systems, there are significant regulatory hurdles that need to be addressed. The current regulatory framework often does not recognize the advantages that miners can bring to grid stability, especially as the integration of renewable energy sources introduces more volatility into power systems . Hive's CEO argues that regulators need to catch up with the realities of the industry to facilitate a more productive relationship between mine
