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Is it really the case that mining Bitcoins is still the most lucrative way to exploit El Salvador's volcanic energy? Instead of mining Bitcoins, they could also
by misja111 4y ago
Is it really the case that mining Bitcoins is still the most lucrative way to exploit El Salvador's volcanic energy?
Instead of mining Bitcoins, they could also simply have exported their electric energy, but apparently this is less profitable. But then I wonder, why don't we see more power plants all over the world doing the same thing with their generated electricity?
- verdenti 4y agoExporting electricity takes a bunch of infrastructure.
- MandieD 4y agoIceland exports their excess electricity mostly in the form of aluminum smelting.
- ekns 4y agoIt is happening increasingly: https://www.nasdaq.com/articles/japans-largest-power-company-tepco-to-mine-bitcoin-with-excess-energy https://www.nasdaq.com/articles/japans-largest-power-company...
- Quindecillion 4y agoI imagine the costs to build out the transmission infrastructure is too great, and simply mining Bitcoin with that "stranded" energy is much easier.
- csomar 4y agoThey can export their electricity through industry. Exporting electricity to other countries is quite the political challenge. And El Salvador doesn’t have that rich or easy neighbors either. Also, mining bitcoin can be considered as a form of energy export.