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Can Bitcoin Mining Make Nuclear Energy Abundant And Free?

Welcome to part two of this series on Bitcoin and nuclear energy. Let us recap what we went through in part one before we dive deeper into the topics we’ll cover in part two.

Key Takeaways From “Why Bitcoin Is The Future Of Our Energy Grid”

  1. Bitcoin has great utility and is important for humans. Not everyone may use or appreciate its utility today, which is fine, but that does not mean it holds no utility to others. Currently, close to $400 billion of the world’s wealth is stored in it, that’s a lot of monetary energy to disregard.
  2. Bitcoin uses only about 0.1% of global energy. Current energy usage is between 100 to 200 terawatt hours (TWh) per year and per the projections shared in part one, Bitcoin’s energy usage will always be a rounding error with regards to global energy consumption. It would most likely be sub-1% for a long time to come.
  3. Bitcoin, in fact, may use too little energy for the value it may store in the future. Considering that Bitcoin likely grows over this coming decade and could store $20 trillion of world’s wealth, maybe even $50 trillion or $100 trillion, that’s a lot of monetary energy to be secured safely and protected. We should invest and use more energy to protect the network than we do currently.
  4. Bitcoin miners are highly mobile, look for the cheapest and lowest cost energy to mine and do not compete with other industries or your personal use for energy.
  5. Energy usage is a good thing. You want to live in a place where there is a good amount of energy available to use and enjoy, rather than too little. We need to use and harness more energy to become a Kardashev Type-I civilization which will take decades.

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