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> Ah, here goes the "recycling otherwise wasted electricity" myth again. I just don't buy it from an economics point of view There’s not really anything to “bu
by 4death4 3y ago
> Ah, here goes the "recycling otherwise wasted electricity" myth again. I just don't buy it from an economics point of view
There’s not really anything to “buy” here. I just described how the New York Power Authority generates power. Here’s a press release from last August announcing a new facility for 20 MW of storage with a target goal of 6000 MW of storage by 2030 [0]. This is just battery storage and doesn't include other storage like pumped hydro. It’s just a fact that NY has excess electricity from hydroelectric power plants.
0: https://www.nypa.gov/news/press-releases/2023/20230825-utility https://www.nypa.gov/news/press-releases/2023/20230825-utili...
- lxgr 3y agoNow imagine a world where Bitcoin miners would buy all that excess energy for more than that battery storage plant would be projected to earn after costs and you can see how Bitcoin is not just saving electricity that would otherwise go to waste.