The UK bitcoin policy group advocates for the use of bitcoin to support sustainable power grids and renewable energy generation
2024-07-10 13:39:28
UK bitcoin policy organization advocacy bitcoin support sustainabledesk3cryptocurrencydesktopCrypto News
The U.K.'s Bitcoin Policy Group, which is advocating for the use of Bitcoin to support sustainable power grids and renewable energy generation, noted in a report released on July 10 that the Bitcoin mining industry is a major purchaser of electricity and could be the key to making intermittent power supply from renewable grids "robust and viable". The report said that the Bitcoin mining industry is one of the few, if not the only, technologies that can provide "fully elastic demand for backup renewable energy". This would set a "floor price" and monetize energy supplies that would otherwise be unavailable or even "cost-cutting", the report said.
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