According to TechFlow, on September 19, US independent presidential candidate Robert F. Kennedy said in a letter to The Economist that Bitcoin mining is a powerful new tool to support renewable energy-intensive power grids.
Kennedy pointed out that Bitcoin mining uses electricity differently from traditional electricity, which can have a positive impact on the power grid. Mining farms only operate when electricity is cheap and plentiful, and will quickly reduce electricity consumption when electricity prices rise.
He gave an example that when Texas encounters extreme weather such as heat waves, Bitcoin miners will shut down their equipment, but when electricity is cheap, the mining machines will remain running, providing stable income for energy producers.
In addition, Kennedy pointed out that Bitcoin miners actively participate in demand response projects to help grid operators control electricity consumption and stabilize the grid. He cited data from the International Energy Agency, saying that in order to achieve net zero emissions, demand response capabilities need to be increased 10 times within this decade.
