NotMyOldRedditName , 1 month ago

Crypto miners aren’t generally turning themselves off to just get the off peak rates. The hardware is expensive and only has a short lifespan before the next hardware that’s 5x better comes out rendering theirs obsolete as the hash rate spikes and they can’t make ends meet anymore.

Generally speaking, it does drive them towards cheaper electricity, which is often renewable or finding places that have excess and getting good rates on it.

Sometimes, that turns out to be dirty electricity like coal, and in some places its kept some coal plants alive and stopped others from being shut down.

But it doesn’t matter if they are 100% renewable because the people that hate crypto, don’t understand it at all, think it’s a scam with absolutely 0 use cases. So all those solar panels or windmills that they buy are resources being taken from other people and slowing down the adoption of renewables, because crypto is a waste.