Blockstream, a bitcoin and blockchain
infrastructure startup, has launched Blockstream Energy, a new service that
allows energy providers to sell surplus power to proof-of-work miners. The new
service, when combined with the Blockstream satellite's connection, is intended
to extend bitcoin mining's potential reach to renewable energy sources even in
distant places.
Blockstream Mining sells bitcoin mining
equipment to businesses and institutions. It also provides hosting services, in
which it installs mining equipment before handing over complete management to
the client.
Modular mining units (MMUs) are self-contained
mining operations that may be controlled remotely by Blockstream Energy.
Turbine or nuclear power plant owners, for example, may sell energy to the
operators of these MMUs that would otherwise go unused.
“For the first time in history, energy
producers have the ability to manage and scale demand in order to match their
supply. “This extremely powerful technology can be used to substantially
improve the economics of renewable energy projects while also making current
electricity grids much more efficient,” said Chris Cook, Blockstream's CIO and
head of mining.
Blockstream MMUs may be used by energy
producers for a number of tasks, including as balancing power grids and
enhancing carbon trading tactics. Because MMUs are portable and plug-and-play,
they may be powered by a variety of renewable energy sources. These MMUs are
used by Blockstream at energy producing locations to allow scalable and
dynamically changeable energy demand.
Bitcoin mining from outer space
“Much of the world's viable renewable resources are located in distant areas with little local demand and minimal surrounding infrastructure,” said Adam Back, Blockstream's CEO.
The Blockstream Satellite network can
link to MMUs anywhere on the planet and enable their operators to control them
remotely, allowing them to locate their operations away from high-demand
civilian or commercial power infrastructures. As a result, renewable energy
production facilities may be built in a range of places, such as near remote
waterfalls or volcanoes, and take use of lucrative energy sources that would
otherwise be unavailable.
Blockstream has recently made a number of statements on the use of renewable energy in bitcoin mining. It announced a collaboration with Aker, a provider of energy infrastructure, as well as a $5 million open source agreement with Square in March.
0 Comments