Part 6/14:
Organizations like Iris are pioneering the use of Bitcoin mining to utilize underused renewable energy assets. By establishing mining operations adjacent to wind and solar farms, Iris offers a load that can absorb excess renewable energy, preventing curtailment—in which renewables are wasted due to grid limitations.
A concrete example is a Texas site with 30 GW of wind and solar, where the limited transmission capacity could only handle a fraction of the generated power. Mining operations absorb surplus energy, turning it into bitcoin and revenue, and can flex their consumption based on real-time market conditions. During periods of high demand or grid stress, miners promptly reduce their load, providing vital balancing services and earning compensation for grid support.