Japan Greenlights Sustainable Mining as Bitfarm Warned by NASDAQ
https://beincrypto.com/japan-sustainable-mining-bitfarm-nasdaq/
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1 comment
What the hell is “excess power on the grid”? That’s not how the power grid works, and Japan was facing brownouts not too long ago.
Generation and load are in balance, and have to be. Otherwise you get more than just under- or over-voltage events…you also get localized frequency shifts that cause brutal effects. If load drops, generation assets reduce output. Simply shunting the power to mining means continuing to use more fossil fuel to do so…which is really just normal mining anyways.
In a world where any part of Japan ever ran purely and solely off renewable power, this could be possible. But that’s not the world we live in, never has been, and won’t be for quite a long time.