Riot Platforms ended up earning more than three times as much from energy credits than it did from mining actual Bitcoin.
added energy demand brought on by the mining operations could be used as a sort of fail-safe during freezes or other extreme weather events. Rather than rationing energy throughout the state, the mining operations can get paid to simply stop working and free up demand on the grid. It’s essentially a win-win, so long as you’re comfortable having the energy prospects of millions of residents at the whim of private interest groups’ negotiating tactics.
Others, like Ben Hertz-Sharge, the global head of Grid Edge at Wood Mackenzie, are skeptical about further taxing an already strained energy system.“The analogy I like to use is that if you start smoking two packs a day and then cut back to one pack on holidays, that doesn’t make smoking good for your health,” Hertz-Sharge said in an
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