A Nevada-based independent Bitcoin (CRYPTO: BTC) miner has been mining blocks from his home using Tesla Inc (NASDAQ: TSLA) solar panels and its Powerwall.
What Happened: In an explanatory thread on Twitter (NYSE:TWTR), Miner 4 Heat detailed how he optimizes energy costs while mining Bitcoin from his residence.
A on home #Bitcoin mining while using local utility Time Of Service billing and #Tesla solar + battery to optimize energy costs while stabilizing the grid.The miner explained that in Southern Nevada, the peak energy usage seen in the region’s 100-degree summer afternoons forces heavy utilization of air conditioners.Essentially this is how to practice grid stabilization with dynamic power curtailment on a small scale..pic.twitter.com/GXrT2s1lOt
— Miner 4 Heat (@techengineer21) June 8, 2022
“Many utility locales have some sort of peak demand period that can be worked to the miners' advantage,” he said.
“To incentivize off-peak usage, an opt-in power plan is offered by the local utility. Instead of paying 11c/kwh at all times all year, rate become 6c/kwh at all times except for 1-7pm weekdays June-Sept where rate is 36c/kwh.”
Without solar power, he opts to shut down his Bitcoin miners during peak demand using home automation software. The addition of a Tesla solar panel system with a Powerwall battery backup helps him further optimize Net Meter billing.
In the Tesla Solar app, I can configure these settings and it will automatically push/pull from sources to optimize power savings. pic.twitter.com/ZKuS9XgYb6— Miner 4 Heat (@techengineer21) June 8, 2022
Conclusion: Dynamic power scaling to meet energy grid demand is a MUST for keeping the #Bitcoin blockchain protected with highly decentralized, small scale mining. The future is competitive..See Also: This Electric Vehicle Mines Bitcoin, Ethereum And Dogecoin While ParkedPower curtailment based on grid demand is possible on a small scale.
— Miner 4 Heat (@techengineer21) June 8, 2022
Price Action: According to data from Benzinga Pro, Bitcoin was trading at $30,272 at press time, up 1.05% over the last 24 hours.
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