Such an important conversation for everyone to listen to. Joe Hayden provided great insights into how Bitcoin miners can be valuable, flexible loads on the power grid. "Bitcoin mining compared to say other verticals using power - very contrarian to where everyone else is thinking, very allergic to high prices... Bitcoin miners don't want to be online so they just want to get out of the way" when demand and prices are high. This flexibility is a "good thing for the grid because when everyone's offline, the infrastructure is being utilized by people who are doing something with the value they're creating." Bitcoin mining is helping to balance the grid by consuming energy when demand is low but getting out of the way when power is needed.
Such an important conversation for everyone to listen to. Joe Hayden provided great insights into how Bitcoin miners can be valuable, flexible loads on the power grid.
"Bitcoin mining compared to say other verticals using power - very contrarian to where everyone else is thinking, very allergic to high prices... Bitcoin miners don't want to be online so they just want to get out of the way" when demand and prices are high.
This flexibility is a "good thing for the grid because when everyone's offline, the infrastructure is being utilized by people who are doing something with the value they're creating."
Bitcoin mining is helping to balance the grid by consuming energy when demand is low but getting out of the way when power is needed.
Name change suggestion: "Texas Timechain Council"?