Robert F. Kennedy Jr.: Bitcoin mining is a powerful new tool to support renewable energy grids

2024-09-19 23:01:33

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ChainCatcher news, as reported by Bitcoin Magazine, Robert F. Kennedy Jr. recently stated in a letter to The Economist that Bitcoin mining is a powerful new tool to support renewable energy-intensive grids.

He pointed out that while the power grid is under pressure from manufacturing, electric vehicles, and data centers, the electricity consumption pattern of Bitcoin mining is different from traditional usage and can have a positive impact on the grid. Kennedy emphasized that unlike facilities such as data centers, Bitcoin mines operate only when electricity is cheap and abundant. When electricity scarcity leads to price increases, the mines can reduce their consumption within seconds.

Additionally, Kennedy noted that Bitcoin miners actively participate in demand response programs, allowing grid operators to control their electricity usage to stabilize the grid. The participation of Bitcoin miners in these programs helps to bid in the open market, reducing electricity costs for consumers.

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