The author of this article also just was interviewed on the Bit Buy Bit podcast:
🎧 Mining Bitcoin and swimming in sats with @techengineer21 | Bit Buy Bit Podcast #39040
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Utility companies will credit the customer for excess solar power delivered to the grid above and beyond what they use for the home (the credit rate also varies based on TOU).
In my case, the utility company will pay me $0.28 per kWh for power I deliver to the grid during peak time. So, in the Tesla app, I can configure these settings and it will automatically push/pull from sources to optimize power savings.
Effectively, my house acts as a small power plant during peak times and an energy consumer during off-peak times.
This has the effect of giving the utility provider what they want: more power supply during peak consumption times, and more power consumption during off-peak times. It also works out for my benefit as I am able to consume only low cost power, while getting credited for all power supplied during peak events at the higher rate of $0.28 per kWh.
As we can see, a significant cost advantage to me as a consumer. Instead of $0.11 per kWh, I am effectively paying $0.06 or $0.03 per kWh depending on the season.
Although utility TOU options may not be available in all jurisdictions, it is likely that many utility providers have a need to level out peak demand.
The cost savings of this technique become even more apparent when coupled with the second key advantage that home miners can use: mining for heat.
All devices that consume electricity put out 100% of that energy in the form of heat, along with their primary purposes (producing light, hashing, etc). A 3,400-watt Bitcoin miner essentially puts out the equivalent wattage in the form of heat.
Dynamic power scaling based on grid demand is possible on a small scale. And by coupling this with mining for heat, small-scale mining operations can be profitable for the foreseeable future.
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