Crypto enthusiasts have long maintained that their mining operations could help in the energy transition and grid stability. According to a January report by the Bitcoin Mining Council, the global Bitcoin mining industry ran on an estimated 58.5% renewable energy by Q4 2021. The preference for clean energy is due to a combination of environmental conscientiousness, political pressures and an eye on the bottom line. Crypto mining drives increased demand for electricity and, therefore, could be a growing source of load for renewable power producers. Mining can be suited to intermittent power sources, and it can be easily moved to far-flung locales to take advantage of the excess generation of renewable electricity.
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