There is a natural shift in mining occurring as a result of the race towards environmental sustainability and cheaper electricity. Bitcoin mining operations can help drive investments in renewable energy
Mas Nakachi is Managing Director of Miami-based XBTO Group’s Bitcoin mining operation XBTO. Founded in 2015, XBTO’s mining operation takes in upwards of $25 million per year and claims to be completely powered by renewable energy sources.Wind power depends on the weather and solar power depends on daylight, but rivers can flow all day every day — and in various locales water can be pumped uphill during off peak periods as a way to store excess energy to run generators when needed.
“Harnessing hydroelectric power has remained an effective mechanism to maintain the most efficient mining possible.”journal concluded “cryptocurrency is unsustainable by design,” Nakachi believes there is a simple path for mining operations to develop both an economically and environmentally sustainable model:
“Prioritizing some form of clean energy to power the majority of operations is, in the long term, a sustainable model for successful mining operations.”, another option being explored in Texas is the utilization of flexible data centers which can switch from the public grid to temporarily generating its own clean energy from dedicated energy generators to relieve stress on the grid during periods of high retail demand.
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