New Kid on the Block: Energy Storage + BitCoin Miners

Who: Layer1 Technologies, a bitcoin mining start up backed by Peter Theil

How do Bitcoin mining and battery storage fit together? Layer1 installed proprietary demand-response technology based on the energy market standards developed by the Electric Reliability Council of Texas (ERCOT)

What benefits are offered to the grid?

  • meet peak market demand
  • stabilize national and local energy grids
  • the energy storage systems of mining operations dynamically manage their electricity usage 

What benefits are there for bitcoin miners?

  • In exchange for putting energy back onto the grid in peak times, miners negotiate a lower rate during operations
  •  The battery storage systems also have a “patent-pending immersed liquid-cooling infrastructure” that reduces the company’s all-in electricity costs by over 75%
Layer1 Launches Bitcoin Batteries to Stabilize Energy Grids by Releasing Electricity to Meet Market Demand