Although breakthroughs in chipset manufacturing have helped bring down operational costs associated with Bitcoin mining, a report by Arcane discloses the market’s potential to transform the energy sector. 

Specifically, the flexible nature of operating Bitcoin (BTC) mining operations plays a crucial factor to fixing the real-world issues that have been the obstacles to the energy sphere, suggests Arcane research.

One of the most major worries authorities mentioned in terms of Bitcoin’s mainstream adoption is its energy requirements. Although innovations in chipset manufacturing have helped bring down operational costs related to Bitcoin mining, a report from Arcane included details of the way the market can bring to the transformation progress for the energy sphere.

Due to the reduced cost of reacting, Bitcoin mining complements the development of wind and solar grids, which normally generate unstable and non-controllable energy. 

Arcane research shares that the Electric Reliability Council of Texas, up to now , has only enabled bitcoin miners to take part in the top advanced demand response programs.

Apart from the flexibility available to grid demands, Bitcoin mining is also able to be the necessary solution to fix problems associated with gas flaring – the process of burning natural gas associated with oil extraction.

Arcane underscores that via taking advantage of the agnosticism, modularity, and portability of Bitcoin rigs, miners are able to setup operations next to oil wells, reasoning that “Per $1,000 investment, a bitcoin mining system reduces emissions of 6.32 tons of CO2 equivalents per year, compared to 1.3 for wind and 0.98 for solar.”

Bitcoin mining can further assist the energy sector via repurposing its byproduct – heat – to heat up homes, industries, and other applications during the coming winter. It is important to note that heating accounts for roughly 40% of the world’s CO2 emissions.