Bitcoin mining>>>> You own the power you own the game?

[5W-KILO]

Are power companies integrating Bitcoin mining into their operations?

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

[OcTradism]

Are power companies integrating Bitcoin mining into their operations?

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

If things are like this, the general electricity power supply in your nation is bad, and locally in your area it is bad or even worse considerably too.

You can mine bitcoin, and staffs of any electricity power supply companies (owned by government or private companies) are free to mine bitcoin. That man did not do anything wrong by mining bitcoin but if anything is not good and consistent enough with electricity power supply in your local area, it's responsibility of the government or the private company.

You can make your complaints about bad inconsistency supply and ask to improve the consistency and quality, but can not complain about Bitcoin mining activity of that person.

[Somegory]

I've read about oil companies forging a new path with Bitcoin mining, for example Exxon Mobil, who sees crypto mining as part of solution to regulation crisis facing the industry because of climate problems.

They are using bitcoin mining to offload carbon emissions, there are few good solutions going this route and it's good for them.

* They can reduce taxation
* They can reduce penalties from federal governments.
* They will bring in extra revenue in the process..

There is another that's converting excess gas into energy for cryptocurrency mining, I think somewhere in Argentina, this will keep happening if bitcoin mining stays profitable to mine

[Karl_3000]

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

If electricity is bad in your area, the electricity company that you visited will not also likely have good electricity. How come they are mining bitcoin despite that they have bad electricity?

If what you said is true and not a lie, it is better you report them. It is very possible that they are using what belong to the public for their own selfish reason which is an offense and can lead to remover of some of the staff and possible prison sentences.

[Mahiyammahi]

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

I guess they are private company that's why they are not bound to answer these questions or not responsible to supply power to the grid. Although government can impose restrictions on these private power company. Considering all the activity goes on world it's highly discouraged and govt should handle thse strictly.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

I can feel your pain, in our country a few weeks ago load shredding/power outage were 20 hours/day.  Can you imagine in a modern day your power are cut off 80% of your whole day. I won't say bitcoin mining should be stopped on banned , but when there is a serious power outage it's government duty to control these mining over time.

[Cookdata]

Are power companies integrating Bitcoin mining into their operations?

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

Honestly, you can't blame any distribution company that decides to share their energy with mining if this is true, like you said. They are private companies, they recieved energy in large quantity but guess what, they can't even distribute all to consumers due to bad infrastrure line, they are responsible for this but the damage they met before the Nepa is too bad that running distribution to fix everything will cost them more and where the consumer doesn't want to pay on what they consume, that's bad investment on their side. So it makes sense if they mine Bitcoin to generate revenue rather than let the energy go to waste, it costs them more money to keep the energy received from TCN.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

If there is no law that stops them from having a mining farm, then it's not a crime. There are lots of things going on behind the electricity generation in Nigeria. As much as I would like to blame them for not doing their primary assignment properly, you have to look at what they do as a private firm. It's everyday, you hear news from the power grid that it has collapsed because the facilities can't handle what is generated, which is less than what some states are consuming in the United States. Some people are not even aware that the distribution companies can supply us power, but the old structures are bad. We even have people who don't pay their bills but we love to have what we can't and this thing is not free, its an investmet from private companies.

[BitGoba]

Are power companies integrating Bitcoin mining into their operations?

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

Bitcoin solves the issue of electricity consumption because it uses much less electricity than banks. Banks consume a huge amount of electricity for all their branches, employees, servers, ATMs, security systems, and the complete infrastructure they need to operate.Banks are huge consumers of electricity, while Bitcoin uses only a small fraction of the electricity that banks consume globally

Electricity producers like Bitcoin, especially those who work with renewable energy sources, such as wind farms or solar energy. For example, a day can be very windy or sunny, but they may not be able to sell or deliver all that electricity because there is not enough demand.
In that case, part of the electricity would normally be wasted. With Bitcoin mining, they can simply turn on mining machines and use that excess energy instead of letting it go to waste.

[Doan9269]

Are power companies integrating Bitcoin mining into their operations?

 The challenges for stream from the government when they are unable to deliver the expected energy required for the mining process and this has been a serious challenge aside the one earlier faced by the same government regulations on Bitcoin mining activities in most countries, however, sourcing for an alternative is a lucrative idea in which we can depend fully on our own option rather than what we have to receive from any centralized authority in which we have to be subjected to their policy, haven said that, bitcoin miners faces series of challenges in which some are not open to us except we are in the same process to face similar challenge they have been through.

[Catenaccio]

Are power companies integrating Bitcoin mining into their operations?

They can but mining needs not only power, electricity but need many thing for mining farms like ASICs, ventilation system, human resources for operation, maintenance and more.

If countries like El Salvador, Bhutan can mine bitcoins, why power companies are not allowed doing that?
It's just they must provide enough electricity for their citizens, and abundant electricity resource can be used for mining activities like Bhutan did with their hydro electricity resource. That nation no longer want to sell their abundant electricity to neighbor nations, and they keep it for their national mining.

Bhutan government's Bitcoin mining.

[arzuo]

This is a concern,
If members of the power companies are involved in Bitcoin mining, then there is a possibility of increasing illegal use of electricity.

Check if there is any ban on Bitcoin in your country.
If you see that there is no ban, then I think it is better to file a complaint against the offender.
And if you see that there is a ban in your country, then there is no point in filing a complaint, because the country is corrupt and that is why this situation has arisen.

Because Bitcoin is banned in corrupt countries, and that is why I think Bitcoin is not just a crypto, but a tool to find corrupt countries.

[Shadiq]

I have no direct complaint about Bitcoin mining, a person can do Bitcoin mining. But when there is an irregularity in the equitable distribution of wealth or when extra benefits are given to a certain group, then it is definitely a crime and a discouraged act. I think you should take the help of the law and file a complaint against them.

Whether an organization is government or private, there must be policies for them. I don't think the government has given them permission or the right to do this. If the government honestly takes action against that power company, then maybe some employees or that company can impose sanctions. Bitcoin mining is not a crime, but taking away the rights of the people is definitely a crime.

[Smartprofit]

I've read about oil companies forging a new path with Bitcoin mining, for example Exxon Mobil, who sees crypto mining as part of solution to regulation crisis facing the industry because of climate problems.

They are using bitcoin mining to offload carbon emissions, there are few good solutions going this route and it's good for them.

* They can reduce taxation
* They can reduce penalties from federal governments.
* They will bring in extra revenue in the process..

There is another that's converting excess gas into energy for cryptocurrency mining, I think somewhere in Argentina, this will keep happening if bitcoin mining stays profitable to mine

As far as I know, the Russian company Gazprom Neft uses associated petroleum gas (APG) for mining. 🙋

Associated petroleum gas (APG) is a serious problem for any oil company. It is typically flared. However, because this seriously harms the environment, environmental organizations impose large fines on oil companies for such actions. However, Gazprom Neft came up with a very elegant solution to this problem. It installed special devices on its site that convert APG into cheap electricity. This cheap electricity, in turn, was used for Bitcoin mining. This solved two problems at once: the company made money and protected itself from fines for non-compliance with environmental laws.

However, Gazprom Neft, like other Russian energy companies, does not mine itself. According to Russian law, mining is permitted only for companies included in a special register of miners.  However, no one is stopping Russian energy companies from entering into commercial agreements with miners (on a paid basis). 💁

[Codeunkie1992]

That's concerning, but its not standard practice. Most legitimate power companies don't divert public electricity to mine Bitcoin, especially if it affects grid reliability. If true, it raises serious ethical and regulatory issues, because public infrastructure shouldn't be compromised for private profit. 

[Cryptomultiplier]

I have no direct complaint about Bitcoin mining, a person can do Bitcoin mining. But when there is an irregularity in the equitable distribution of wealth or when extra benefits are given to a certain group, then it is definitely a crime and a discouraged act. I think you should take the help of the law and file a complaint against them.

Whether an organization is government or private, there must be policies for them. I don't think the government has given them permission or the right to do this. If the government honestly takes action against that power company, then maybe some employees or that company can impose sanctions. Bitcoin mining is not a crime, but taking away the rights of the people is definitely a crime.

There's obviously a misalignment of priorities in this case, because it seems the supposed electricity workers have turn their working hours to mining Bitcoin and that is almost like a hedge against their job salary to get more money of course.

I wonder if the management of such a company is aware of this or gave them a go ahead to mine Bitcoin when they are supposed to work efficiently and productively to provide electricity, because if they do it productively under management permission, they would see that mining actually supports the grid by ensuring that the utility company remains and become more profitable enough that infrastructure is heavily impacted and improved.

[AVE5]

Are power companies integrating Bitcoin mining into their operations?

Private power company in my country that's responsible for providing grid power to the people, they have not been very nice because most of the time grid power is always down but then I had to make a visit to the company days ago to make some complain then I was some Asic miners in a store like half sized room.

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

So are you indirectly insinuating that the power company had been reserving the power energy for their bitcoin mining? If yes so be it.
You said it's private power supply company and not public company which means as a  business organization they don't have to trade with emotions.
If the public haven't been able to meet up the power bills you shouldn't expect them to keep up being at lost by offering those services or unprofitable.
What you see from the exhibition of that power company is the significant outcome of having a draw with plan B just in case plan A fails. Same way the company has also figured it that mining will provide them more profits than relying on the power supply with the public.
This also proves how much bitcoin had become interesting but for only those who truly understand its value.

[BALIK]

I got closer to one of the staff and he said they are mining Bitcoin, I complained about how worse the grid have become and he said that's how it's supposed to be, that they are not making enough supplying the country electricity. Never saw it coming.

In which country did this incident actually take place? You know situation varies from place to place.

Whatever, instead of banning mining altogether regulators should set strict rule. It should be said that it is mandatory to first provide a certain amount of power to national grid. After that the remaining portion can be allowed to be used for mining purposes.

This will maintain both the profit of economic incentive and public interest.

If electricity is bad in your area, the electricity company that you visited will not also likely have good electricity. How come they are mining bitcoin despite that they have bad electricity?

If what you said is true and not a lie, it is better you report them. It is very possible that they are using what belong to the public for their own selfish reason which is an offense and can lead to remover of some of the staff and possible prison sentences.

It is an eternal struggle between personal gain and public service. Real battle is over the distribution of resources. Even if a power company is private when it receives concession or infrastructure facility from government it has an unwritten obligation. First it has to provide uninterrupted power to national grid and then the rest can be used to do other thing