You can find the cheapest energy in unexpected places
Quote of the day "Knowledge is power, but creativity is more powerful"
In a recent podcast with Adam Wright, CEO of Vespene Energy, we learn that you can find energy in unexpected places. Vespene Energy gets their energy from landfills in the USA. Landfills emit methane gas. Methane gas is a greenhouse gas, 80 times more powerful than carbon dioxide. Landfills must by law, burn methane emitted from their landfills. This is a cost for them. Vespene Energy does this for them, transforms this energy into electricity and mines bitcoin with the electricity thus created. Selling the bitcoin is how they pay for putting in place the infrastructure. I learned the term, “behind the meter” It means electricity that is not coming from the grid. These forms of energy are often smaller stranded amounts of energy, and are very cheap. Adam Wright believes that these cheap forms of energy will power the bitcoin network, confirming the idea bitcoin mining will become more and more atomized. He sees the the same potential for methane gas produced from many other sources like processing palm oil. Exxon and Connoco Philipps have already said they mine bitcoin with methane gas flares that appear when they drill for oil.
The future looks bright and unexpected.
To listen to the podcast, click here