Layer1 stabilizes Texas networks with ‚Bitcoin batteries
The US-based Bitcoin Mining Data Center (BTC) operator Layer1 Technologies has deployed its mining containers as „Bitcoin Batteries“ comprising large-scale energy storage systems.
Layer1 claims that its bitcoin batteries will help stabilize the volatile seasonal energy market in Texas by releasing electricity to meet demand.
„By centralizing the consumption and release of multiple megawatts per data center container, Layer1’s Bitcoin Batteries stabilize national and local power grids that often suffer from demand shocks,“ the company said.
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Bitcoin batteries to stabilize the electricity market
With the installation of the Immediate Edge, Bitcoin Profit, Bitcoin Billionaire, Bitcoin Code, Bitcoin Revolution, Bitcoin Evolution, Bitcoin Era, Bitcoin Circuit, Bitcoin Trader, The News Spy batteries, Layer1 co-founder and CEO Alexander Liegl says the mining company is „the first company in the global mining industry that can reduce large amounts of energy consumption in times of market need and put it on the grid at the touch of a button.
We are the first company to perfectly align the economic incentives of large-scale energy consumption for high-performance computing, such as Bitcoin mining or cloud computing, and the need for grid stabilization by energy market regulators.
The company plans to deploy power in response to local spikes in consumer demand, such as during heat waves, where extended use of air conditioning can threaten blackouts.
Bitcoin’s hashrate drops by 30%, which experts say is a sign of the upturn.
Layer1 will repatriate 30% of the global hash power
In February, Layer1 Technologies described an ambitious plan to repatriate 30% of Bitcoin’s total hash rate to the United States by the end of next year.
Layer1 plans to be the industry’s first fully vertically integrated miner, featuring wholly owned power generation, patented ASIC chips and mining containers with a patent-pending liquid immersion cooling system that reduces electricity costs by 75%.