dsbatten on Nostr: Why did Brad Jones, former CEO of ERCOT say that “Bitcoin miners keep the price of ...
Why did Brad Jones, former CEO of ERCOT say that “Bitcoin miners keep the price of energy low for all Texans”
Three main ways. Bitcoin mining:
1. Uses surplus renewable energy that otherwise grid owners have to pay renewable operators to curtail
2. Provides a more competitive marketplace for demand response, driving down the overall cost of ancillary services to grid operators
3. Provides additional revenue to grid operators, increasing their profitability and reducing need to increase prices.
Three main ways. Bitcoin mining:
1. Uses surplus renewable energy that otherwise grid owners have to pay renewable operators to curtail
2. Provides a more competitive marketplace for demand response, driving down the overall cost of ancillary services to grid operators
3. Provides additional revenue to grid operators, increasing their profitability and reducing need to increase prices.