Bitcoin Mining In Australia
Could Australia’s volatile energy markets be the next ‘Texas’ for Bitcoin mining?
Mar 11, 2025
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Welcome back to The Mining Pod! Today, Daniel Leslie, CTO of Coinsafe 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.
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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