World

Bitcoin’s energy revolution could happen sooner than we think

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This is an opinion editorial by Kent Halliburton, president and COO of Sazmining.

Although the intent of the Bitcoin white paper was to usher in a financial revolution by introducing the first effective peer-to-peer electronic cash system, we are now seeing the start of Bitcoin’s second revolution: energy.

Bitcoin miners serve as power buyers of last resort, can work from anywhere, and can be turned on and off with almost infinite flexibility. As such, bitcoin mining can generate viable remote and renewable energy sources that otherwise would not have been profitable. Additionally, miners can convert waste energy into digital gold, drastically reducing humanity’s emissions problem. Interestingly, these improvements in our relationship with energy are already underway, even before Bitcoin has become the next global reserve asset. Could it be that Satoshi Nakamoto’s undeclared energy revolution really takes hold before the first revolution of a peer-to-peer cash system? Although we can’t know for sure, the data suggests that might be the case.