Bitcoin mines could be used for energy storage

What is one proposed method to address the energy consumption of Bitcoin mining?

• Converting excess renewable energy into Bitcoin

• Building more coal power plants

• Using nuclear power plants

• Reducing the number of Bitcoin transactions

Why might Bitcoin mines be located near renewable energy projects?

• To avoid government regulations

• To increase the value of Bitcoin

• To reduce transportation costs

• To efficiently use energy that cannot be transmitted over long distances

Which company is mentioned as redirecting gas to Bitcoin mines?

• Chevron

• Shell

• BP

• Exxon

What action did New York State take regarding Bitcoin mining in 2022?

• Banned all Bitcoin mining

• Imposed a moratorium on fossil fuel powered Bitcoin mines

• Subsidized Bitcoin mining operations

• Required all Bitcoin mines to use solar power

What is a reason for crypto miners to seek greener energy sources?

• To increase mining speed

• To lower their carbon footprint

• To avoid paying taxes

• To reduce hardware costs