Paradigm, a crypto investment firm, has released a report advocating for the exclusion of Bitcoin mining from policy restrictions targeting data centers' energy consumption. The report argues that Bitcoin mining can stabilize energy grids by utilizing off-peak renewable energy and returning power during high-demand periods. It claims that Bitcoin mining uses only 0.23% of global energy and emits 0.08% of carbon, countering common criticisms of its environmental impact.
The report, authored by Paradigm's Justin Slaughter and Veronica Irwin, suggests that Bitcoin mining inherently balances community energy consumption, thus supporting grid stability. This comes amid increasing policy scrutiny in North America, with U.S. lawmakers proposing bills to prevent data centers from raising electricity costs. Paradigm contends that miners using otherwise wasted energy or participating in state programs should be recognized for their contributions to grid management.
Paradigm Defends Bitcoin Mining's Role in Energy Grid Stability
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