The BTC network uses about 12 gigawatts of electricity every minute, most of it from coal-fired plants in China and elsewhere.
A "green" solution like geothermal would certainly offset a miniscule amount of that, but it would still be contributing to what is essentially a "dirty" asset.
It would make more sense to mine lithium from the water injected into the geothermal wells. There was recently a breakthrough in mining lithium from seawater, I'm guessing it could be adapted to extracting the lithium from geothermal instead of injecting it back into the ground.
https://electrek.co/2021/06/04/scientist...-seawater/
I always thought it was ironic that BTC is heralded as the "alternative to fiat currencies" but the electricity used in the backbone of the BTC operation is paid for in fiat currencies, making it essentially a fiat-backed asset itself.
A "green" solution like geothermal would certainly offset a miniscule amount of that, but it would still be contributing to what is essentially a "dirty" asset.
It would make more sense to mine lithium from the water injected into the geothermal wells. There was recently a breakthrough in mining lithium from seawater, I'm guessing it could be adapted to extracting the lithium from geothermal instead of injecting it back into the ground.
https://electrek.co/2021/06/04/scientist...-seawater/
I always thought it was ironic that BTC is heralded as the "alternative to fiat currencies" but the electricity used in the backbone of the BTC operation is paid for in fiat currencies, making it essentially a fiat-backed asset itself.