Bitcoin Miner Makes 700% Profits Selling Power to Grid – Yahoo Canada Finance
(Bloomberg) – On a sweltering summer afternoon in West Texas, a cryptocurrency miner backed by billionaire Peter Thiel shut down his data centers for about 30 minutes. During this short period of time, the company made money not from Bitcoin, but from selling electricity.
On hot windless days, the company, Layer1, can resell its contracted power supplies into the grid for a profit. Recently,…
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