Forbes: Bitcoin Mining Aiding Europe’s Energy Shift

Forbes says this technology stabilizes power grids, utilizes excess energy, and integrates renewable resources. Read on to get the details.

As energy costs surge and the call for cleaner energy on the continent continues, bitcoin mining is emerging as a key actor.

The European Energy Crisis

The need for energy management in European countries has emerged due to the continent’s high energy costs and conflicts. Germany relies on renewable power like wind and solar for nearly 60% of its power needs. However, these unpredictable energy sources make balancing the load to serve the grid a big problem.

This is where bitcoin mining comes in. Bitcoin miners are flexible — they can turn on during energy surplus and off when demand is high. Rachel Geyer of the European Bitcoin Energy Association argues that miners balance themselves as proactive consumers like renewables and relieve pressure from the grid.

JUST IN: #Bitcoin mining is helping Europe’s energy transition, according to Forbes.

Mining helps stabilize the continent’s grids by using excess energy and, by integrating with renewable energy, is becoming a key player in the energy landscape pic.twitter.com/2AeMuPYOJb

— Bitcoin News (@BitcoinNewsCom) December 16, 2024

Germany Leads the Charge

Famous for its engineering, Germany is at the forefront of blending Bitcoin mining with renewable energy. Projects like Terahash’s “Genesis” in Finland run on renewables. The miners process bitcoin and generate heat for a town of 12,000 residents, keeping homes warm in winter and providing hot water in summer.

Small-scale projects demonstrate Bitcoin’s mining possibilities. For example, a car wash in Germany needs the deicing of its floor in winter and heat water to wash the car, which uses solar energy to mine the Bitcoin. It is the innovativeness of such projects that are enabling sustainable development.

JUST IN: Germany’s ex-Finance Minister says “It is time to recognize the opportunities of #Bitcoin in Germany” in a speech at the Bundestag. pic.twitter.com/jQu1HOwnvG

— Radar (@RadarHits) December 16, 2024

Beyond Germany

Other European countries are joining the movement. Austria, for example, is exploring how Bitcoin mining can stabilize its hydroelectric grid. These efforts support the Bitcoin network and create real value for communities. It does this by lowering energy costs and providing reliable heat.

Bitcoin & Canton of Bern:

We successfully passed a postulat requiring the government to assess integrating Bitcoin mining into Bern’s energy strategy. Good news: Switzerland’s summer solar power surplus will make Bitcoin mining highly competitive globally.… pic.twitter.com/38aOu4BZtC

— Korab Rashiti (@KorabRashiti1) November 28, 2024

Conclusion

Bitcoin mining goes beyond creating digital currency—it solves real-world problems. At the same time, it is becoming a significant element of the change in the energy mix in Europe as the grids are being balanced and additional renewable energy is being used.

Disclaimer

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