Hiveon’s Post

💡 Deutsche Telekom, Europe’s largest telecommunications provider, is venturing into Bitcoin mining. The Bitcoin mining project utilizes surplus energy from renewable sources that would otherwise go unused. 🍃 Named “Digital Monetary Photosynthesis,” the project is a collaboration with Bankhaus Metzler and Deutsche Telekom’s subsidiary MMS. ⚡ Mining rigs will be located in Backnang, Germany, operated by Metis Solutions. The initiative aims to help regulate energy fluctuations from renewable sources, particularly wind turbines. 🗣️ “Together with Bankhaus Metzler and RIVA Engineering GmbH, we are taking a step in this direction to test the regulatory effect of Bitcoin miners in the energy grid. Surplus energy is converted into digital values through the miners. We call this digital monetary photosynthesis.” — Oliver Nyderle, head of digital trust and Web3 infrastructure at Deutsche Telekom MMS. 💡 Metzler plans to explore further opportunities in financial services involving digital assets.

In this article for SuperMassive, I explore the challenges of Australia’s energy grid and share my proposal for using Bitcoin mining as a dynamic grid balancer. https://lnkd.in/gwTA-Yfg

Lithium-metal battery developer SES AI Corporation has signed a non-binding memorandum of understanding (MOU) with retail energy provider AISPEX to provide up to 100MWh of battery energy storage systems (BESS) at a crypto mining site in Texas, US. #energystorage

This is a prime example of how miners can position themselves as a simple solution to grid balancing. We can prevent wasted energy and encourage more mining. Imagine the impact if others followed suit! https://lnkd.in/ez4tfprR #Bitcoin #RenewableEnergy #GridBalancing $BMNR

Power grid challenges? 💼 Bern takes action with Bitcoin mining to transform excess energy into value 💰📊 #BitcoinMiningSurplus #Crypto #Renewables

Once maligned for using mostly coal-power from China, International Business Times is doing a great job documenting the breakneck speed at which the Bitcoin mining industry became the highest user of sustainable energy in the world (56.5% sustainable, growing at 3.5% year on year) The reason for the shift? Bitcoin mining must have cheap power. It's 80% of its budget. and "Around 86 percent of all the newly commissioned renewable capacity in 2022 had lower costs than fossil fuel-fired electricity" (IEA Report) https://lnkd.in/gPqY_eTG

Can surplus energy fuel innovation? 💡 Bern explores Bitcoin mining for economic growth and greener power grids 🌍 #BitcoinMiningSurplus #Crypto #Renewables

SPP loses 114 MW wind farm, is this the start of a trend? A bitcoin mining firm purchased the wind farm and will be co-locating bitcoin mining operations on the wind farm. It will be withdrawn from SPP, taking it off grid. One wonders if this may be the start of a trend that will include Data Centers and other large loads? One also wonders how large this trend may get or what impacts it may eventually have on the reliability of the grid? https://lnkd.in/eytVfWZC

A bitcoin mining firm purchased the wind farm and will be co-locating bitcoin mining operations on the wind farm. It will be withdrawn from SPP, taking it off grid.