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40 sats \ 2 replies \ @KenyaCoin 21 Apr freebie \ parent \ on: How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the li bitcoin
If there was the demand, in the Great Rift Valley, which cuts through Kenya, there is over 10,000 GW of continuous geothermal electric generation potential that remains untapped.
All of Kenyan demand for power combined though has not yet exceeded 2,000 GW of consumption at any one point in time.
So building additional geothermal generation capacity is hampered by the demand for additional capacity in which the energy produced would be in demand, 24x7.
If an additional geothermal plant was constructed and came online today, the only time of day where there is unmet demand is in the evening, (e.g., 6pm - 9pm), when the sun goes down on the country's solar generation plants but the demand for power remains high thanks to televisions, lights, etc. So what happens is they hold off on constructing of that very expensive geothermal generation plant until they have demand for its power 24 x 7.
Bitcoin mining can subsidize the early days of a new plant, where bitcoin mining is a paying customer for the remaining 21 hours per day, albeit at a significantly lower cost per kWh than what the consumers pay.
Yes, this supports the thesis that Bitcoin serves as a great anchor customer for tapping undeveloped energy sources with variable demand. Bitcoin becomes a valuable addition to consider when investing in such conditions.
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Geez, ... typo, of course.
Should have read:
10,000 MW (10 GW)
and
2,000 MW (2 GW)
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