Economic Feasibility of Using Distributed Generation Resources Independently to Supply Energy for Cryptocurrency Miners

In this study, a behavioral analysis was conducted on Distributed Generation (DG) systems to study the feasibility of using them independently and off-grid, to supply energy for cryptocurrency miners by considering economic and technical factors. After conducting a behavioral analysis on Antminer S۱۹ Pro, the results obtained from the performed projects will be used to confirm their technical feasibility. Then, using a small-scale miner farm, MATLAB software will be utilized to prove that although using some DG solutions, such as solar, wind, and diesel, is technically feasible, their costrevenue performance renders them economically unviable. Additionally, this research proves that the interest of companies in utilizing off-grid DGs to provide electricity for cryptocurrency miners is minimal. The simulations applied in this study incorporated cost-revenue modeling, performance degradation factors for PV, diesel generators, and wind systems, and stochastic load profiles for miners to validate the technoeconomic results. These simulations provided quarterly profitability forecasts for each DG configuration.

Keywords:

cryptocurrency , Distributed Generation (DG) , Economic Feasibility , Miner , Technical Feasibility