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See you at #miningdisrupt2025 !
Exciting News!
Auradine is thrilled to partner with Revolve Labs and HM Tech LLC to elevate customer service and support for Bitcoin miners worldwide!️
Together, we’re committed to driving the future of Bitcoin mining with unmatched reliability and innovation.
#Bitcoin
Announcing Speaker Nate Givens- Director and Machine Learning Engineer at @Revolve_Labs
Learn from some of the most prominent speakers from the mining industry at the World’s Largest Bitcoin B2B & Bitcoin Mining Conference & Expo!
Join us June 24-26, 2024 -Buy your tickets now https://t.co/yAvUTCkk2a
#bitcoin #bitcoinmining #miningdisrupt #miningindustry #energy #energyindutry #energyprofessionals #bitcoinminingexpo #bitcoinexpo #btc #bitcoinminingconference
Respectfully, you didn't need to spend taxpayer money to conclude that Bitcoin "could consume 0.6-2.3% all electricity in the United States" - our models have been telling us for more than a year that Bitcoin uses ~1.9% of US electricity. (see calculations below)
But this statistic is meaningless (unless your intention is to create context-independent soundbites to vilify Bitcoin: quite possible, considering Senator Warren's involvement in this data-gathering exercise).
That's the easy bit. Here's what we also know, that the EIA has not been asked to investigate:
- 52.6% of that power comes from sustainable energy
- 60% of that power is on a single grid: ERCOT (Texas)
- the ERCOT grid has not experienced blackouts since Bitcoin hashrate rose steeply from 2021
- The ERCOT Grid operator from 2021-23 hailed Bitcoin as part of the reason the grid became more stable, and electricity prices did not rise further for Texans
- a high percentage of that power is stranded/wasted electricity/non-rival (not quantified yet, but there's a meaningful chunk of work for you EIA)
- a Cornell Study showed that Bitcoin mining on the ERCOT grid allowed renewable operators to become more profitable, which helped accelerate the renewable transition of that grid
- More than 10% of US network emissions are already offset through US methane mitigation, a figure that is trending upwards every year
Calculations:
US est electricity consumption: 4,068 billion kWh in 2024
source: EIA's own data https://t.co/9Cg5Ut4z70.
Bitcoin current global electricity consumption: 162.25 billion kWh (162.5 TWh). source: https://t.co/cereiCCS4h
US estimated % of global hashrate: 47.7%
Source: https://t.co/sbWb4F3P5C
https://t.co/cxVfhohB42
Bitcoin mining is an energy refinery. It turns unrefined, stranded, and undervalued energy sources into high-value energy money. And I think that's beautiful.
The #Bitcoin energy narrative is flipping! A new note out this morning on the Bloomberg Terminal looks at the rapid rise of sustainable energy sources in $BTC mining
🧵
OK I'm calling it
The tide has turned in the narrative around Bitcoin & energy
In last 90 days
- Cambridge admit #Bitcoin energy calculations overstated
- 2 academic papers (incl MIT) state environmental benefits to Bitcoin
- KPMG report Bitcoin has positive ESG rating
Just returned from a phenomenal experience at @MiningDisrupt 2023! 🚀
The #RevolveLabs team was thrilled to engage with innovative minds, build new connections, and catch up with familiar faces.
Let's continue to disrupt and transform the mining landscape!
Come down to @MiningDisrupt Booth #56 and talk to the Revolve Labs team for all your hosting and repair needs!
Also, get a chance to win a Free S19 and 12 months of free hosting!
#MD2023#miningdisrupt#Bitcoin
We're excited to announce that Bit 49, Inc. has transitioned to Revolve Labs!
We're taking our commitment to sustainable Bitcoin mining to the next level.
Learn more about our transition and what's next👇
https://t.co/UcCt84zTIl