As the CEO of CleanSpark, a publicly-traded bitcoin mining company with a background in the green energy sector, I write to bring your attention to a technology that is catalyzing the development of our nation’s energy grid into one that is more renewable-powered, efficient and interconnected.
Zach Bradford is the CEO of CleanSpark.
Bitcoin mining, the process by which new bitcoins are created and transactions are added to Bitcoin’s public ledger, has been regrettably politicized. Often the conversations about bitcoin mining ignore the perspective of those closest to it, like residents of a town with a bitcoin mine. It is essential to look at the facts as they are and recognize that the very nature of bitcoin mining can be turned into an opportunity to revolutionize America’s energy landscape.
Last week, nearly 110 million Americans were under extreme heat advisories, suggesting that a heat wave might be imminent. The 2021 heat wave is estimated to have resulted in billions of dollars in damages and several hundred deaths. This recurring loss to life and economy can be significantly reduced through energy grids that are more efficient, reliable and constantly load-balanced.
The aging infrastructure of our nation’s energy is dotted with recent instances of blackouts that have occurred because of natural calamities or demand peaks led by extreme temperatures. We need to build more generating capacity and upgrade existing infrastructure to realize a future where 100% of the power demand in the United States is met through clean, renewable and zero-emission energy sources.
Thanks to bitcoin mining, the same entrepreneurial spirit that built our great nation is working to revolutionize our energy infrastructure while making it greener in the process. Entrepreneurs and inventors are drawn to the energy industry because of bitcoin mining, which creates lucrative opportunities for energy ventures.
See also: Bitcoin Mining Has a Superpower
In the last three years, the number of bitcoin mining companies traded on Nasdaq has more than tripled to 20. An increasing number of these companies mine using predominantly renewable sources of energy because that kind of energy is sustainable not only for the environment but also for business.
Bitcoin mining encourages new renewable energy projects by…
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