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Generation Expansion Planning Considering Cryptocurrency Mining

Bonakdari, Danial | 2024

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 56813 (46)
  4. University: Sharif University of Technology
  5. Department: Energy Engineering
  6. Advisor(s): Rajabi Ghahnavieh, Abbas
  7. Abstract:
  8. Today, financial exchanges have taken on a new form and cryptocurrencies were able to have a special place in these exchanges. Cryptocurrencies have attracted a lot of attention due to their decentralized nature. One of these cryptocurrencies is called Bitcoin and has the largest share of cryptocurrency exchanges. Due to the high volume of Bitcoin exchanges, a lot of energy is needed to supply this decentralized network to confirm transactions and extract it. In order for people in this industry to continue mining Bitcoin, they need to maintain their profitability. Therefore, choosing low consumption and profitable miners is one of the requirements of this industry. The aim of the thesis is to select low-consumption and profitable miners, estimate the energy consumption of bitcoin mining in 2024 and plan production in the power grid using different technologies to supply the energy required for bitcoin mining. The methodology used in this thesis is based on the identification of low-consumption and profitable miners to estimate the energy required for Bitcoin mining in 2024 around the world. Then, the planning of production in the power grid using combined cycle, wind and solar technologies for energy supply is discussed
  9. Keywords:
  10. Bitcoin ; Cryptocurrency Miners Identification ; Cryptocurrency ; Production Planning ; Generation Expansion Planning ; Energy Consumption ; Cryptocurrency Mining

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