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Friday, February 3, 2023

Bitcoin’s Energy Revolution Happening Now – Bitcoin Magazine

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This is an opinion editorial by Kent Halliburton, President and COO of Sazmining.

Though the intention of the Bitcoin white paper was to usher in a financial revolution by introducing the first effective peer-to-peer electronic cash system, we’re now seeing the inception of Bitcoin’s second revolution: Energy.

Bitcoin miners serve as energy buyers of last resort, can work from anywhere and can turn on and off with nearly infinite flexibility. As such, bitcoin mining can render viable renewable and remote energy sources that would have otherwise been unprofitable. Additionally, miners can convert waste energy into digital gold, drastically curbing humanity’s emissions problem. Interestingly, these improvements to our relationship with energy are already underway, even before bitcoin has evolved into the next global reserve asset. Could it be that Satoshi Nakamoto’s unstated energy revolution actually takes hold before the first revolution of a peer-to-peer cash system? Although we can’t know with certainty, the data suggests that could be the case.

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