Innovative technologies often face skepticism, especially when they disrupt the status quo. Critics are often quick to question the environmental impact of these technologies, ex: “Dig More Coal – The PC’s are Coming”, a 1999 Forbes article warning of the environmental dangers of computers and the internet.1 Consider how different our world would be without them now. Today, Bitcoin may follow a similar trend. 

You may not know that over 55% of Bitcoin’s mining energy is renewable2—eclipsing sources like Walmart at 13%, Lockheed Martin at 22%3, and total global power usage at 29%4. Bitcoin not only meets global standards, but exceeds them. 

Strategically, Bitcoin miners seek out surplus energy, targeting regions where electricity is cheapest and most available. This strategy doesn’t merely balance power grids; it leads them toward cheaper, greener power plants. 

Power plants frequently face the challenge of excess energy, especially during low-demand periods. Bitcoin miners offer a solution, converting this surplus into a lucrative revenue stream, directly funding the transition to cleaner energy like wind, solar, and hydro. 

Understanding base and peak load power plants is crucial to understanding Bitcoin’s sustainable impact. Base load power plants run non-stop, ensuring we always have electricity. However, they often produce more power than needed, especially during low demand times like late nights. This excess often goes to waste. Peak load power plants kick in during high-demand moments (moments where more energy is used, such as a particularly hot day). These plants, however, usually rely on dirtier energy sources like coal and gas. They also miss out on consistent revenue since they don’t run all the time. 

This is where Bitcoin miners can help. They can quickly and easily adjust their energy consumption, using up extra energy when there’s an oversupply and dialing back during high demand. They prevent grid overloads by absorbing excess energy, but also halt operations instantly when demand surges. It is true that Bitcoin uses a lot of energy, but it does not take from other sources when they need it. 

The goal of Bitcoin miners is profitability. Bitcoin miners earn profits only if they access the power they need efficiently. If they can’t, they fold. If they can, they thrive. This aligns perfectly with power plants’ interests, as they both want to maximize revenue. For this reason, Bitcoin miners are always searching for the cheapest energy. Often, this means renewable sources like wind, solar, and hydro. These sources produce power throughout the day, but it’s not always in 

demand, especially off-peak times. By tapping into this otherwise wasted energy, miners get it at a cheaper price. 

Energy prices fluctuate. When demand soars, prices climb. When it dips, prices drop. Miners, being opportunistic, grab the cheaper, otherwise wasted power. This consumption doesn’t just benefit them. It also offers power plants a steady revenue stream, encouraging them to pivot to renewable energy sources. 

Bitcoin miners bridge the gap between power production and consumption. By utilizing energy that would otherwise be wasted, they bolster power plant incomes, bringing the world closer to a greener future.

1 “Dig More Coal – the PC’s Are Coming,” Forbes, May 31, 1999

2 Pierre sama, Feroz Sanaulla, Christine Vaughan, “How Crypto Mining Wil Transform the Energy Industry” 3 Green Power Partnership Fortune 500 Partners List,” Environmental Protection Agency 4 Renewables 2021 Global Status Report