After Texas, it is Russia's turn to use the Bitcoin industry to balance its electrical network and reduce the bill. When will France wake up? What about Germany?
Russia relies on bitcoin
Russia already feeds the second greatest power of global calculation thanks to its Bitriver flagship. Things seem to have accelerated since the dubbing of Vladimir Putin. The manager of the Russian electricity network Rosseti announces that he wants to put his surplus of electricity production at the service of the Bitcoin industry.
The Russian public news agency Tass Reports that Rosseti proposes to coordinate the installation of bitcoin minors in strategic places and the development of a tool to reduce their electricity consumption to smooth electricity consumption.
Russia walks in the footsteps of Texas where minors have built a symbiotic relationship with Ercot, the local network manager. The Russians already control 17 % of the computing power of the Bitcoin network. It is around 40 % for the United States. Europeans share crumbs.
For Rosseti, “The Bitcoin industry will consume the surpluses of electricity while increasing basic electricity consumption (Baseload) of the network. This will result in additional income for the company and tax revenues for the government ”.
François Bayrou, EDF and RTE (electricity transport network of France) would do well to ask questions. Especially at a time when we are looking for 70 billion euros To finance the next six nuclear reactors.
Unfortunately, the debate remains polluted by ideological biases which prevent recognizing that Bitcoin is an asset for the energy transition. However, it is enough to look at the costs of the intermittentness of renewable energies to understand it.
Bitcoin and the problem of intermittentness
The intermittentness of electricity production refers to the variability and unpredictability of certain renewable energy sources. Solar panels do not produce electricity at night and wind turbines are dependent on an erratic wind.
This intermittency makes them non -competitive in the face of carbon and nuclear energies. Result, subsidies are needed. They reach 20 billion euros A year in Germany and projections overcome 23 billion in 2029.
This additional cost is largely due to the maintenance of thermal power plants in case. The situation is even so much ubiquitous that Germany has closed its nuclear power plants. Centrals that could have worked for several more decades.
Not to mention the installation costs of new high -voltage lines or the commercial deficit with China. There European Commission Calculated that Chinese companies manufacture solar panels for 16 to 19 cents per Watt of production capacity. It is 24 to 30 cents for their European counterparts who close one after the other.
Also remember that nuclear power plants are not designed to accommodate the intermittent ENR. Nuclear security authority Considers that these untimely production variations partly explain the crisis that has stopped half of the French reactors in 2022. This “stop and go” is however essential with the development of renewable energies.
But is there not an alternative to the closure or degradation of nuclear power plants? Why sacrifice an invaluable technological heritage if the Bitcoin industry can compensate for the additional costs that the energy transition generates? Especially since it is also a nice tool for managing the electrical network to accommodate peaks in energy consumption so problematic.
Integrate bitcoin minors into the network
Texas uses what are called “Gas Peaker Plants”. These extra thermal power plants work during peaks of request or when varies suddenly. That is to say only 3 % of the time. Rather, we use the dams in France.
The other solution is to pay homes to reduce their electricity consumption. Industry can also be used, including aluminum foundries.
However, homes often come back. The small discount on the bill does not compensate for the ordeal of a cold or heat wave. As for the foundries, their erasure lasts no more than four hours, at the risk of an industrial disaster.
Texans no longer need these gas power plants. They have the bitcoin industry which can stop operations in the blink of an eye and as long as necessary. Most Texas minors participate in the erasure programs of the ERCOT electricity network manager. It works so well that its CEO recently canceled the construction of 10 gas power plants. They are no longer necessary due to 3 GW that minors can return to the network on request.
It is more interesting to have flexible electricity consumers than thermal power plants that turn slowdown all year round. Brad Jones congratulated minors for their contribution to “Maintain the cost of low energy for Texans”.
What about France? What about Germany? The figures are overwhelming:
It is time for the debate to evolve. Europe should not be the stuffing turkey. Happy, things are moving in Germany where the former Minister of the Economy is calling for a Bitcoins Strategic Reserve. Even the Czech Republic gets started!
Will France be there? Do not miss our complementary article: Bitcoin accelerates the energy transition.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
