How reusing the heat from Bitcoin mining can solve the global energy crisis?

While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining, an Arcane report reveals the market's potential to transform the energy industry.

One of the biggest concerns authorities raise regarding the widespread adoption of Bitcoin is its energy requirements. While innovations in chipset manufacturing have helped reduce operational costs related to Bitcoin mining, an Arcane report reveals the market's potential to transform the energy industry.

Due to the low cost of reaction, Bitcoin mining complements the growth of wind and solar networks, which often produce unstable and uncontrollable energy. To date, arcane research notes that the Texas Electric Reliability Board has only allowed bitcoin miners to participate in the most advanced demand response programs.

In addition to being flexible to the demands of the network, Bitcoin mining can also help solve problems related to gas flaring, the process of burning natural gas associated with oil extraction.

Arcane notes that by leveraging Bitcoin equipment agnosticism, modularity, and portability, miners can set up operations right next to oil wells, reasoning that "for every $1,000 of investment, a bitcoin mining system reduces emissions of 6.32 tons of CO2 equivalent per year, compared to 1.3 for wind power and 0.98 for solar".

Bitcoin mining can further help the energy industry by reusing its by-product - heat - to heat homes, industries, and other applications during the coming winter. It is important to note that heating accounts for approximately 40% of global CO2 emissions.