Mining Bitcoin is pretty bad for the environment due to coal's primary power source. Another key source is natural gas.
shared a thread on Twitter focused on mining bitcoin while using local utility time of service billing combined with Tesla Solar and Powerwalls, which optimized the energy costs while stabilizing the grid.
His local utility offers an opt-in power plan to incentivize off-peak usage when rates drop to 6 cents per kWh instead of 11 cents per kWh, which is the typical rate except for 1:00–7:00 pm on summer weekdays. During that time, the rate jumps from 11 cents per kWh to 36 cents per kWh. “Pre-cooling house prior to peak, then raising A/C setpoint during peak to minimize A/C usage during peak. Essentially the house acts as an energy battery of cooled air.”
“Essentially, I consume as much power as needed during off peak times, then during peak times, batteries supply the house with all power needs , while all solar produced goes back into the grid.”
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