To ease load on aging grid, state program offers energy credits to bitcoin miners to curtail their power consumption.

  • Sludgehammer@lemmy.world
    link
    fedilink
    English
    arrow-up
    57
    arrow-down
    2
    ·
    1 year ago

    I can’t quite see it, but I’m really guessing there’s some sort of money laundering angle here.

    • IDontHavePantsOn@lemm.ee
      link
      fedilink
      arrow-up
      22
      ·
      1 year ago

      It’s not really laundering because the income was legal. It’s more like a game of Russian roulette blackmail to allow a negotiable tax evasion rate.

      There are a lot of figures left out of the article, but it sounds like a preemptive bailout to handle a company fully prepared to cause the rolling blackouts that would also damage themselves. Plus those credits can most likely be sold and bought like any other commodity, only a bit less regulated. Given a few years of climate change those credits will be extremely valuable. Then again, I’m just a speculative jerk on the worldwide web with an opinion. I could be wrong.