Nov 28, 2023

How Nic Carter and Other Pro-Bitcoiners Are Fighting Climate Impact Narratives

Bitcoin Mining and Clean Energy A new working paper penned by Bitcoin (BTC) advocates and the former president of the Electric Reliability Council of Texas (ERCOT), the operator of Texas’ electrical grid, has argued that Bitcoin mining is a “critical tool” for clean energy and balancing the grid. Authors of the Nov. 22 paper titled…

Nic Carter and other pro-Bitcoiners fight climate impact narrative in new paper - web 3.0 projects, best crypto sources, science ai, and more.
Nic Carter, other pro-Bitcoiners fight climate impact narrative in new paper

Bitcoin Mining and Clean Energy

A new working paper penned by Bitcoin (BTC) advocates and the former president of the Electric Reliability Council of Texas (ERCOT), the operator of Texas’ electrical grid, has argued that Bitcoin mining is a “critical tool” for clean energy and balancing the grid.

Authors of the Nov. 22 paper titled “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency” included Nic Carter, Castle Island Ventures partner; Dennis Porter, the CEO of Satoshi Action Fund; Murray Rudd, a science adviser; Shaun Connell, executive vice president of power at Houston-based tech company Lancium; and the late Brad Jones, who served as ERCOT president and CEO.

The paper provides case studies of Bitcoin miners participating in demand response programs and providing grid services in Texas, demonstrating their potential as flexible and controllable loads. It also outlines how their inherent interruptibility and swift load response capabilities can be used to enhance grid flexibility and better integrate variable renewable energy sources into the system.

Bitcoin Miners and Demand Response

The researchers concluded that Bitcoin miners can contribute to demand response, “thereby bolstering both the technical and economic stability of the grid.”

The findings of the paper stand in contrast to the arguments of anti-crypto politicians who have blamed Bitcoin miners for high energy usage and loads on grids. For example, in October 2022, United States Senator Elizabeth Warren and six other Democrats pressed ERCOT for information detailing how much electricity Bitcoin mining operations consume. Warren has also previously attacked New York mining firm Greenidge Generation, claiming that a “crackdown on environmentally wasteful cryptocurrencies” would help fight the climate crisis.

Marshall Long, a Bitcoin mining pioneer, tagged Warren in a retweet of the paper, adding, “The people who RUN the grids say you’re wrong.” This serves as a reminder of the importance of web 3.0 projects, best crypto sources, science ai, and other crypto.com twitter accounts in understanding the implications of ai tech and web 3.0 crypto projects such as people.ai.

Cryptocurrencies and Sustainable Energy

A recent study from Cornell University has demonstrated how wind and solar projects can benefit from Bitcoin mining during their pre-commercial stages. This finding suggests that the comprehensive impact of Bitcoin on global energy demand and climate change may be more nuanced than previously thought.

In July, Cointelegraph reported that Bitcoin mining was becoming more sustainable due to the implementation of hydro-cooling farms and associated petroleum gas. Furthermore, in September, it was reported that Bitcoin clean energy usage had surpassed 50%.

People.ai and other Web 3.0 crypto projects are helping to further increase the sustainability of Bitcoin mining. Crypto.com and other best crypto Twitter accounts are great sources for staying up-to-date with the latest AI tech and Web 3.0 development. After the release of 000 pieces, the best crypto sources have been Crypto Press Cryptocurrencies Network.

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