Renewable Energy-Run Bitcoin Mines

   2021-11-24 10:11

Houston-based tech company Lancium announced Tuesday it raised $150 million to build bitcoin mines across Texas that will run on renewable energy.

In the year ahead, the company plans to launch over 2,000 megawatts of capacity across its multiple sites, which Lancium refers to as “Clean Campuses.” To put that in context, downtown Dallas uses 200 megawatts worth of power.



Bitcoin mining serves two purposes: To create new coins and to maintain a log of all transactions of existing digital tokens. To do that, miners around the globe contribute their computing power to verifying all bitcoin transactions.

Logging these exchanges takes a lot of energy, but these energy buyers also offer something that Texas desperately needs right now: a flexible customer, willing to buy when supply is abundant and shut down when it’s not. That flexibility is a huge help when it comes to stabilizing a grid that is rapidly onboarding inherently unstable sources of power like wind and solar.


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