How Bitcoin Mining Can Alleviate One of The Greatest Challenges Facing Renewable Energy
Bitcoin, specifically the mining process gets a lot of flack for its energy usage. But a new Peter Theil backed company, Layer1 Technologies, is attempting to do the inconceivable – stabilize the energy grid, get paid to mine less bitcoin, and make the U.S a significant player in the bitcoin mining industry. Like so many of the great American tales, our story begins in the semi-arid lands of west Texas.
Texas, the Duck Curve, and The Greatest Challenge Facing Renewable Energy
Texas Grid: Decentralized Energy Market
Unlike much of the U.S, Texas has a deregulated energy grid which unbundles utilities into three distinct functions:
- Generation - power plants, solar, wind farms, etc.
- Transmission - power lines which are still regulated by the state of Texas
- Retail electric providers - customer service and billing for electricity
Mason was a Senior Research Analyst at Messari focused on Web3 protocols and cryptoassets. Before Messari, Mason worked at ConsenSys as a Content Marketer focused on marketing strategy. Mason obtained his Master’s in Business Management at Hong Kong Baptist University.