Capacity isn’t the same as utilization. Crypto is on 24/7 but the rest of the demand curve isn’t flat, so most of the day there’s excess capacity. During peak

Capacity isn’t the same as utilization. Crypto is on 24/7 but the rest of the demand curve isn’t flat, so most of the day there’s excess capacity. During peak demand batteries charged by solar where used to meet demand, but nobody is building battery banks to store solar energy for 2AM. Non battery backed Solar instead offsets power used in the day but that’s simply a cost saving measure making it independent of increases in demand. This is why China added 210 GW of solar in 2023 year even though demand didn’t rise by nearly that much. Wind faces the same issue due to dependability. As such the added demand from crypto has ~zero impact on how much non battery backed solar or wind gets added. Instead it simply increased how often fossil fuel power plants get turned off.