Blockstream has announced Blockstream Energy, a new service that allows energy producers to maximize energy production efficiency and sell surplus electricity.
Today, August 17, 2021, Blockstream announced their latest service, Blockstream Energy, which offers scalable energy demand to energy producers using Bitcoin’s proof of work (PoW), in a press release sent to Bitcoin Magazine.
This new service utilizes these self-contained and remotely operated mining facilities called modular mining units (MMUs) as featured in the picture above, which allows energy producers to maximize energy production efficiency and sell surplus electricity.
These plug-and-play MMUs are to be deployed at energy production facilities which allow for scalable and dynamically adjustable energy demand. MMUs can be very beneficial by playing multiple different roles such as optimizing energy utilization, balancing electric grids and improving carbon trading strategies. And because of their ISO-compliant dimensions, these units can ship around the world and between energy production sites with ease.
“For the first time, energy producers can control and scale demand to meet their supply. This incredibly powerful tool can be used to make existing electrical grids far more efficient while also significantly improving the economics of renewable energy projects,” explained Chris Cook, CIO and head of mining at Blockstream. “Looking ahead, we are very excited to leverage Bitcoin technology to accelerate renewables and anticipate this market to grow and remain coupled."
Something that really makes this service unique is that you can access your MMU from anywhere in the world via the Blockstream satellite network. Since this service operates in even the most remote places on the planet, this brings new opportunities from previously unviable hydro and solar hotspots, in addition to any excess energy at sites isolated from civilian or commercial power infrastructure.
“Much of the world’s usable renewable sources are concentrated in remote locations where there is little local demand and not much surrounding infrastructure,” said Adam Back, CEO at Blockstream. “By combining Blockstream Energy with our network of satellites, these energy hotspots can be tapped into. We look forward to working with partners to identify some of these areas where stranded energy can be utilized for Bitcoin mining to further incentivize investment in renewables."
This is one of the many announcements coming from Blockstream that aims to pursue alternative energy solutions, which includes a $5 million solar mine with Jack Dorsey’s Square as well as a partnership with energy infrastructure multinational Aker. All the above perfectly demonstrates how renewable energy can and will help drive clean Bitcoin energy adoption.