Presentation short abstract

We investigate the materiality of bitcoin mining farms that operate behind-the-meter and explain how their proponents extend the life of fossil fuel sites. We focus on research in Canada and Argentina and argue that mining, as a “technology of the future”, is reliant on energy of the past.

Presentation long abstract

The demand for energy to power artificial intelligence (AI), cryptocurrency mining and cloud services continues to increase exponentially. Governments and businesses focus on the security imperative of promoting these technologies as part of the economy of the future. In particular, Bitcoin mining has become increasingly onerous in terms of energy inputs required for its proof-of-work protocol. In this context, mining operators working front-of-meter (connected to the grid) have become deft at promoting the adaptability of its operations to help reduce the vulnerability of energy systems. Large mining farms are in addition promoting behind-the-meter operations (those that use energy produced on site for their operations instead of energy mediated through the grid), as a way to reduce climate harms by for example using flare emissions from oil sites. In this paper, we investigate the discourses and materiality of bitcoin mining farms that operate behind-the-meter and explain how their proponents extend the life of fossil fuel sites, in part as a “sustainable” path to mining. We focus on incipient primary research in Canada and Argentina and chart the connections of these operations in global north and global south contexts. The paper argues that cryptocurrency production, as a “technology of the future” is, despite its promotion as a tool for energy transition, reliant on and further locks in energy infrastructure of the present and past.