 BTC miners are ideal energy consumers, but regulators need to catch up — Hive 
2024-10-04

Embracing regulators has become a critical part of the Bitcoin mining business, as governments worldwide largely overlook the role of data centers in supporting grid stability and even the transition to clean energy sources.
In an exclusive interview with Cointelegraph editor Sam Bourgi during the ‘Proof of Work Summit’ in Germany, Aydin Kilic, president and CEO of the mining firm Hive Digital, shared the company’s strategy to overcome regulatory hurdles and expand its footprint in renewable energy. 
“There’s this completely facetious outlook on the industry where we’re energy robbers,” said Kilic, adding that miners are, in fact, the “ideal customers” of energy companies. He explained:
However, if the primary energy production is already running, Bitcoin miners can immediately reduce their energy usage when requested, allowing that power to be redirected to other parts of the grid in a matter of seconds, according to the executive. 
Hive has been engaging with regulators at different levels to educate them on how data centers may bring economic development while supporting energy grid stability, particularly as renewable sources add volatility to grids.
Kilic said the company has invested in its relationship with municipal, provincial, and federal governments in Sweden, Canada and Paraguay. While authorities usually welcome data centers at the local level, at other levels, there are still misconceptions.
A good example of this can be found in Sweden, where authorities updated the National Energy and Climate Plan 2021-2030 to revoke some subsidies for data centers as part of a long-term environmental strategy. 
“It’s so important to educate politicians on the virtue of Bitcoin mining as an energy consumer,” noted the executive. 
Hive’s strategy to address regulatory shifts also includes looking for countries with renewable energy sources to add green Bitcoin to its balance sheets while still supporting grids’ stability. 
In July, the company announced plans to build a 100-megawatt mining site in Paraguay, which is expected to more than double its mining hashrate. 
“Paraguay is a great frontier. It’s an immense opportunity for us. It’s all hydro energy, and we’d like to be leaders in grid balancing,” said Kilic.
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