Solar Power Bitcoin Mining – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

There are two energy revolutions currently underway that complement one another: the revolution in human energy use, as greener or more sustainable options become a priority in the light of climate change, and the Bitcoin revolution that is driving a whole new frontier in how energy is used to create value.

Solar power in particular seems like the cutting edge for renewable Bitcoin mining. Bitcoin industry stalwarts Blockstream and Square are constructing a multi-million-dollar solar-powered mining facility, for instance.

But it’s hard to know what percentage of the Bitcoin network’s overall hash rate is generated by solar power, though anecdotal evidence from solar developer Blake King of RES Holdings indicates that there are new solar projects “everywhere” in the U.S.

In a recent Compass Mining podcast, King noted that there really isn’t data available to determine exactly how much solar energy is available, but he’s hearing that power grid generation queues are full of new solar companies trying to get in.

“It’s huge,” he said. “There’s gigawatts of solar coming in everywhere.”

The latest Cambridge Centre For Alternative Finance energy data indicates that “a growing share of total electricity consumption originates from renewable energy sources such as hydro, solar, or wind power,” though, the center notes, that “the exact energy mix of the Bitcoin mining industry remains unknown… estimates diverge considerably, ranging from approximately 20% to 30% of the total energy mix to more than 70%”