Welcome back to The Mining Pod! Today, Daniel Leslie, CTO of Coin Safe Limited, joins us to discuss Bitcoin mining in Australia. Despite Australia's massive size, its mining footprint remains tiny at around 100MW total capacity. Daniel explains how Australia's renewable-heavy grid (35-39%) creates price volatility and operational challenges similar to Texas. He shares insights on how miners could become crucial grid-balancing assets by consuming excess renewable energy and acting as "buyers of last resort." With abundant resources and a secure business environment, Australia could follow Texas's path to becoming a mining powerhouse.
Timestamps:
00:00 Start
02:30 Australian Bitcoin mining market
04:47 Homegrown mining or foreign investment?
06:30 Energy mix
13:41 have renewables hindered mining growth?
19:45 Using coal as flex generation
24:41 Gov incentives for grid connection
27:29 New interest in BTC mining
34:16 Grid connection approval times
41:10 Huddles to adoption
Notes:
• Australia has ~100MW of Bitcoin mining capacity
• 79% of installed renewable capacity gets curtailed
• Miners operate at grid edge due to price volatility
• Nuclear plants proposed for each Australian state
• Energy operators now open to Bitcoin mining JVs
• Grid regulates coal down when renewables produce
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