“The basic causes of change are precisely those that are not subject to conscious control.” – James Dale Davidson ||
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IN THIS NEWSLETTER:
Bitcoin and water – a different story
Putin in Saudi Arabia
Keep an eye on EU rates
Key signals
WHAT I’M WATCHING:
Bitcoin and water – a different story
On Monday, I ranted about faulty research alleging that bitcoin mining uses “too much” water. Well, there’s a twist to the tale. Researcher, investor and author Daniel Batten (I recommend following his work, and he’s just launched a newsletter) has published a report on how bitcoin can help with the world’s water shortage.
This is not one of those “bitcoin fixes everything” screeds (Daniel’s a serious researcher), rather it looks at how desalination is for now the most obvious solution to a lack of drinking water. But desalination is not a cheap technology, which means for now it is limited to wealthier regions. What’s more, it is energy-intensive, and the regions that most need it tend to be regions that rely heavily on fossil fuels. More than half of all desalination projects are in the Middle East.
(image via Iberdrola)
Work is under way to harness solar power for desalination. Bitcoin mining can help with this by using the excess energy generated, contributing to the financial viability of the power generation.
Also, bitcoin mining electricity consumption generates heat. Desalination requires heat to evaporate the sea water. By consuming the excess energy from the desalination plant’s power source, bitcoin mining can also make the process more efficient by contributing an inadvertent byproduct.
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