What Happened: In an explanatory thread on Twitter, Miner 4 Heat detailed how he optimizes energy costs while mining Bitcoin from his residence.
A on home #Bitcoin mining while using local utility Time Of Service billing and #Tesla solar + battery to optimize energy costs while stabilizing the grid.— Miner 4 Heat (@techengineer21) June 8, 2022
Essentially this is how to practice grid stabilization with dynamic power curtailment on a small scale..pic.twitter.com/GXrT2s1lOt
The miner explained that in Southern Nevada, the peak energy usage seen in the region’s 100-degree summer afternoons forces heavy utilization of air conditioners.
“Many utility locales have some sort of peak demand period that can be worked to the miners' advantage,” he said.
“To incentivize off-peak usage, an opt-in power plan is offered by the local utility. Instead of paying 11c/kwh at all times all year, rate become 6c/kwh at all times except for 1-7pm weekdays June-Sept where rate is 36c/kwh.”
Without solar power, he opts to shut down his Bitcoin miners during peak demand using home automation software. The addition of a Tesla solar panel system with a Powerwall battery backup helps him further optimize Net Meter billing.
In the Tesla Solar app, I can configure these settings and it will automatically push/pull from sources to optimize power savings. pic.twitter.com/ZKuS9XgYb6— Miner 4 Heat (@techengineer21) June 8, 2022
Conclusion: Dynamic power scaling to meet energy grid demand is a MUST for keeping the #Bitcoin blockchain protected with highly decentralized, small scale mining. The future is competitive..— Miner 4 Heat (@techengineer21) June 8, 2022
Power curtailment based on grid demand is possible on a small scale.
Price Action: According to data from Benzinga Pro, Bitcoin was trading at $30,272 at press time, up 1.05% over the last 24 hours.