If their cost of generation is cheap enough, it would make sense - depends on what they use for their "swing" or "peak" power generation, and if they have excess on their "base" capasity.
I suspect that it would not be profitable for most utilities that do NOT have access to large amounts of hydropower though.
Topic: Utility Company interested in getting into mining (Read 561 times)
This idea has been kicked around since at least early 2014 and frankly, I'm surprised more Electric utilities don't do this for load balancing when feasible eg they have a lot of excess base capacity because of too few options to cover peak loads. One prime example of a company that should look into it is Ontario Hydro which has to sell its excess generation capacity to the US grid at near cost and often less than cost.
Why? Because of the time involved to take large power plants even partially offline and then back online again when needed. Vs the cost of that it's cheaper to sell the excess power at a loss.
Sooo. I agree with the idea - switch on some of BitFury's mythical containerized Petahash farms when needed instead!
Why? Because of the time involved to take large power plants even partially offline and then back online again when needed. Vs the cost of that it's cheaper to sell the excess power at a loss.
Sooo. I agree with the idea - switch on some of BitFury's mythical containerized Petahash farms when needed instead!
So I know a utility company that is interested in mining bitcoins when the price of power goes negative or is free.
They are starting w/basically zero knowledge, but they have limitless capital and energy to invest if the economics looks right.
Would such an investment be worth it? They may be interested in hiring someone (as a consultant) that could direct such a project if the projections look good.
They are starting w/basically zero knowledge, but they have limitless capital and energy to invest if the economics looks right.
Would such an investment be worth it? They may be interested in hiring someone (as a consultant) that could direct such a project if the projections look good.
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