RATE Group | Layer1 Launches Bitcoin Batteries to Stabilize Energy Grids by Releasing Electricity to …
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Layer1 Launches Bitcoin Batteries to Stabilize Energy Grids by Releasing Electricity to …

22 May Layer1 Launches Bitcoin Batteries to Stabilize Energy Grids by Releasing Electricity to …

Posted at 17:28h in Bitcoin News by

SAN FRANCISCO, May 22, 2020 /PRNewswire/ — Layer1 Technologies, the leading U.S. Bitcoin mining and energy infrastructure company, announced today that it has completed the installation of its proprietary demand-response technology based on the energy market standards developed by the Electric Reliability Council of Texas (ERCOT). Now, Layer1’s fully integrated, proprietary Bitcoin-mining data center containers serve as large-scale energy storage systems (“Bitcoin Batteries”) that can be tapped in real time to meet peak market demand. By centralizing the consumption and release of multiple Megawatts per data center container, Layer1’s Bitcoin Batteries stabilize national and local energy grids that frequently suffer from demand shocks. 

“Layer1 is the first company in the global Bitcoin mining industry that can curtail large amounts of energy consumption during times of market need and release it to the grid at the push of a button,” said Alexander Liegl, co-founder and CEO,…

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