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  • ‘There’s No Catch’: Bitcoin Mining Startup Promises Free Money to Renewable Energy Companies
  • Crypto

‘There’s No Catch’: Bitcoin Mining Startup Promises Free Money to Renewable Energy Companies

cryptovert November 5, 2024 1 min read

This
is
where
bitcoin
mining,
Marr
realized,
can
provide
a
profitable
solution.
If
a
solar
plant,
or
a
wind
farm,
has
the
ability
to
convert,
nearly
instantly,
its
excess
electricity
into
bitcoin
instead
of
selling
it
at
a
loss,
renewable
energy
companies
could
significantly
boost
their
revenue.
That,
in
turn,
would
make
the
financing
of
new
green
energy
projects
more
palatable,
and
reduce
the
industry’s
need
for
government
subsidies.

Contrary
to
other
types
of
data
centers,
like
artificial
intelligence
clusters,

which
need
almost
100%
uptime
,
bitcoin
mines
can
be
turned
on
and
off
with
a
flick
of
a
switch
when
the
cost
of
electricity
gets
too
high
for
the
operation
to
remain
profitable.

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