Experts told about the effects of lower electricity prices

More and more miners cryptocurrency tries to travel to the United States.

Reducing the cost of solar energy will lead to the fact that miners of bitcoins will gradually move from China to the United States. How energy will change the balance of power on the production market of cryptocurrencies in column Greentech Media says the expert in the field of law on renewable energy sources TEM hunt.

To date, only the company Genesis Mining and some other operators use geothermal energy in Iceland for bitcoin mining. According to hunt, mining bitcoin using solar energy can become more profitable. With a payback period of one to two years, they will have an income with almost zero costs another 25 years or more.

In the US there are possibilities for use are very cheap, and in some places, and free energy. Moreover, it can even be sold back to the grid, which will further increase the profitability of production. In the scenario of negative pricing network receives too much energy, and the operator must either temporarily close some power plants or to pay electricity consumers for excess capacity and thus to avoid shutting down the stations.

According to experts, miners can earn additional income in two ways. First, due to negative pricing, which gives you the opportunity to earn up to two cents per kilowatt-hour. Secondly, due to the use of this power for bitcoin mining, which can give an income of 25-50 cents per kilowatt-hour or more, if the price of cryptocurrencies will continue to grow.

This approach allows bitcoin miners, depending on the market situation, or to use energy for mining crypto currencies, or sell electricity to other consumers. This reduces the risk of investment losses.

© 2017 – 2019, paradox. All rights reserved.