Duke Energy, one of the top power supply firms is exploring Bitcoin mining. Reportedly, the firm plans to integrate Bitcoin mining into its business model. Justin Orkney, the firm’s Lead Rates and Regulatory Strategy Analyst confirmed on Troy Cross’s podcast ‘’Bitcoin, Energy, and the Environment’’ that the first step to making BTC mining would only come after a few miners are onboarded before offering BTC mining to the masses.
Before rolling out an official report, the enterprise will leverage its microgrids with different sources of power and with different levels of miners to understand the potential of the mining machines and the overall output.
Strategy for existing demand response
The company has already developed a demand response strategy, confirmed by Orkney. As per the strategy the focus is leveled at Bitcoin and how it is performing during this crypto winter. The demand response testing will require analyzing the electricity usage to compare it to the high use season when the demand increases on the grid to optimize electricity reliability.
The spokesperson also confirmed that Duke Energy has been offering power to small-scale Bitcoin miners.
Demand and Response: A strategy to improve energy supply
The enterprises in the States have been leveraging the demand and response strategy for analyzing electricity outflow to optimise energy supply. The governor of Texas Greg Abbott invited crypto-asset miners to test solutions for improving energy supply strategies.
While Bitcoin has always received flak for high electric power usage in mining. However, the energy consumption by mining has notably reduced owing to a downtrend in the crypto market.
Source: FinBold
BTC: the king coin has been making waves across the globe
BTC’s dwindling price has been making headlines throughout the crypto winter. Which resulted in a lot of people selling off their holdings. However, some companies like Micro Strategy have pumped their money into the original crypto asset. El Salvador, the country that adopted BTC as legal tender in 2021, brought 80 Bitcoins as the price slipped below 19k.
Central Africa has recently announced the adoption of Bitcoin as legal tender. The president of the country, ‘Faustin-Archange Touadéra posted “Vires in Numeris” – a Latin motto meaning “strength in numbers” on Twitter, hinting at the co-relation between numbers and Bitcoin.
The new Visionary initiative
The president had sent hints early in April with the ‘Visionary’ plan. He referred to a project called ‘Sango’ which also happens to be one of the African languages. The project is to encourage crypto adoption in the country. The website ‘Sango.org’ does not offer much information on crypto investing or adoption. Visitors on the site can choose to sign up and join the waitlist to be able to participate in the project.
Source: BBC News
Additional Read: Institutional Interest in Bitcoin
Mexico is next in line for crypto adoption
Southern America’s most important region Mexico could be next in adopting crypto as a legal tender. Reportedly, Senator Indira Kempis de I. has added laser eyes to her Twitter profile which indicates that the individual is bullish on crypto. She also thanked El Salvador for making BTC legal tender and added ‘’Exciting times ahead’’.
Source: The International Times
Additional Read: Top Crypto News: El Salvador Buys Bitcoin at $19,000 Each!
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