Maximilian Obwexer founded 21energy to develop Bitcoin miners that also serve as home heating solutions. His company produces designed devices, including models like Ofen 1 and the new Ofen 2, which can solo mine Bitcoin. The company has grown rapidly, hiring new employees and increasing production capabilities. During a presentation, Obwexer emphasized Europe's reliance on imported energy and the challenges with the traditional grid, where legacy electricity producers must often reduce output in favor of renewable energy sources, leaving excess electricity unutilized.
"Bitcoin heaters are decentralized grid balancing - at home!" he proclaimed on stage in Helsinki on Friday before hundreds of curious faces in the audience at the inaugural Nordic Bitcoin conference BTCHel.
Europeans are beholden to foreigners for importing energy. Its current electricity producers - legacy coal, gas and hydro - are increasingly asked to turn off their supply to the grid, in favor of the ever-more present wind turbines and solar panels.
Fossil-fuel-based generation produces CO2 emissions as well as particles in the immediate environment, but its proposed replacements push dynamic and uncontrollable electricity generation onto the grid.
At peak supply, even renewable energy providers are asked by grid management to curtail or wind down production; there is simply nobody to take the excess electricity, nowhere to put it.
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