Top US Energy Company to Explore Bitcoin Mining

Top US Energy Company to Explore Bitcoin Mining

Share and Get Popular🚀

Duke Energy, a top US energy company, is reportedly looking to explore Bitcoin mining as part of its plans to integrate its demand response strategy.

In a tweet by Duke Energy’s lead rates and regulatory strategy analyst Justin Orkney on June 4, he shared notes on electrification of transportation and decarbonization of the electric power grid through Bitcoin mining.

However, the company also wishes to discuss the electrification of transportation and decarbonization of grid with Telsa and SpaceX CEO Elon Musk.

“@elonmusk – would love to share notes on how Bitcoin mining could facilitate electrification of transportation and decarbonization of grid. Even allow for quicker adoption of Tesla rooftop solar. Have your people call my people.”

In an earlier statement by Justin Orkey, he confirmed that Duke Energy is currently studying Bitcoin mining, in fact, his crew is exploring how Bitcoin could solve the problems faced by the grid as renewable penetration increases. Grid imbalance and other problems will only worsen as we approach renewable targets.

Results of the study will show how to onboard miners on the grid before scaling up for the masses. The company leverages its micro-grid with different energy sources to conduct tests to measure the impact involving several levels of miners.

“We are exploring general customer phasing concepts … I’m working on a Bitcoin demand response study about including Bitcoin mining capacity in our system with an eye toward the demand response functionality … We are hoping to do a technology test.”

Bitcoin is still in its early stage, this is why it is still being criticized, more adoption by the world’s population will eventually leave world leaders with no option but to adopt Bitcoin and other cryptocurrencies.

Join the early adopter now to be miles ahead of the early/late majority by honing your trading skills with our ParadiseFamilyVIP, our Paradise Team will assist you to grow your portfolio in Binance (Spot and Futures), Kucoin, and Bybit cryptocurrency exchanges with little or no effort required from you, MyCryptoParadise makes daily analysis of BTC, ETH, and other trending altcoins.

Use PRO20% for your special 20% discount, a trial will get you convinced. Meanwhile, you can click here to see reviews from our clients.

The Electric Power Grid Decarbonization Strategy

Duke Energy also provides electric power to several Bitcoin miners on a smaller scale. The idea of having crypto miners on the grid could boost power supply and minimize outages.

He believes initiatives like demand response with miners could assist in preventing pressure on power infrastructure. Also, can help Bitcoin miners and the market.

Besides, Tesla is already working with Blockstream and Block on a Bitcoin mining project. Working with Duke Energy could be noteworthy for both companies. He believes initiatives like demand response with miners could help prevent pressure on power infrastructure. Also, can help Bitcoin miners and the market.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights. And also FREE market updates.

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode