In the realm of digital currencies, Bitcoin stands accused of being an energy devourer, its mining operations often portrayed as environmental villains. Media narratives highlight its colossal energy consumption, echoing claims that it rivals entire countries in its thirst for power.
Contrary to the media narratives that paint Bitcoin as an energy-devourer giant, the reality tilts more towards a different narrative. Bitcoin mining is increasingly reliant on renewable energy, with estimates suggesting that 40% to 75% of its energy consumption comes from renewable sources.
Miners are starting to set up base in rich renewables like hydroelectric power locations like Sichuan, China, and geothermal energy in Iceland, tapping into the surplus of solar and wind power. This shift represents a significant move towards stabilizing energy grids, utilizing surplus energy, and even innovating in heat utilization, ranging from heating buildings to supporting agricultural and aquacultural practices.
The Matebe Hydroelectric Plant
To start this journey, let’s go to The Virunga National Park. This park, for years, has been the victim of poachers who burn its trees and sell coal, an illegal practice that not only destroys the environment but also forces the people of the region to join militia-styled gangs that prey on poverty and lack of opportunities to recruit more workers.
After years of victimisation and fighting, the locals have found a quest that could yield tons of sustainable development: Bitcoin mining. At the heart of this transformation is the Matebe hydroelectric plant, a beacon of hope and innovation.
Deep within the park’s heart, the Matebe plant is a testament to human ingenuity and respect for nature. Generating 14 MW of power, it energises the lives of 1.5 million residents while barely leaving a footprint on the delicate ecosystem. The plan is to build eight more plants in the next eight years, heralding job creation and regional stability. Projects like this give this area’s citizens choices and prevent them from falling victim to the already-mentioned militias.
During The Lugano Plan ₿ Forum Sebastien Gouspillou told us the incredible story of how Bitcoin Mining is financing this Energy revolution in multiple ways. Africa’s growing population outpaces the growth of its electricity networks. Here, Bitcoin mining enters as an unlikely hero. Fostering the development of renewable energy sources offers a sustainable decentralised solution to this growing challenge, lighting up homes and hopes across the park and, hopefully, the continent.
The Global Decentralised of Bitcoin Mining
The decentralisation of Bitcoin mining is crucial for geographic and political diversity, especially following China’s mining ban. It strengthens the Bitcoin network and brings technological equity to various regions. Today, Bitcoin mining powers the energy sector in a sophisticated dance, tapping into the value chain and optimising electricity use.
This evolution paves the way for industrial applications and extends beyond the digital realm. The generated heat can warm homes, dry fruits, and purify water – practical and innovative uses that foster a symbiosis between technology and daily life. This model is crucial for Africa’s growth and freedom, as it can positively impact energy models worldwide, such as the EU.
In Lugano, The Plan ₿ Project and ACME SwissTech, led by CEO Giw Zanganeh, showcased an interesting case study developed with the Gabbani family. Known for their hospitality role, the Gabbani team uses renewable energy to power their operation centre. To stabilise and profit from their grid, they’ve added Bitcoin Mining.
