Our previous blog stated how Bitcoin mining encouraged solar+Battery system to scale economically and provide an increasing share of grid energy. We used a collective one yer data to illustrate a grid ecosystem including bitcoin mining—powered by solar + battery system—will generate an increasing percentage of electricity from renewable carbon-free sources over time.

We have reached the same conclusion by updating our model use case with various bitcoin prices and hash rate timeframes. We show that Bitcoin mining can incentivize additional solar and battery installations whether bitcoin is in a bull market or a bear market. Interestingly, during the setback in bitcoin’s price this week, Talen Energy announced plans to raise $800 million and build two bitcoin data centres, including one to mine cryptocurrency, for this purpose.

In the next iteration of our model use case, we will add another dimension - the household – to this ecosystem. Please find a link to our open-source model here.