Energy Storage Control for Renewable Cryptocurrency Mining

Resolve Bottlenecks,
Find Innovative SolutionsGenerate Solutions

Solution Overview

Problem

The high energy intensity and costs associated with cryptocurrency mining, coupled with the environmental impact of using unsustainable energy sources, pose significant challenges. Additionally, energy storage systems are expensive and underutilized if not frequently employed.

Innovation Solution

A system and method for managing an energy storage system by directing stored energy to a cryptocurrency mining system and another consumer, responsive to conditions such as energy availability, market pricing, and user-set thresholds. This system includes co-locating or integrating a cryptocurrency mining device with an energy storage device, utilizing low or no-carbon energy sources, and employing a control unit with dynamic logic to optimize energy use.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Object-affected harmful factors

If cryptocurrency mining is conducted using traditional energy sources, then mining productivity is maintained, but environmental harm increases due to carbon emissions and unsustainable energy consumption

Engineering Contradiction:

Improveenvironmental harmVSAvoidmining productivity

Core Design Contradiction:

Object-affected harmful factorsVSProductivity

Solution Approach 1:

The patent combines cryptocurrency mining operations with energy storage systems and renewable energy sources into an integrated hybrid system. This merging allows the mining operation to consume stored energy during periods when renewable generation is insufficient, maintaining mining productivity while reducing reliance on carbon-based energy sources and thereby decreasing environmental harm.

Inventive Principle:

Principle #5Merging (Combining)

2Use of energy by moving object

If energy storage systems are installed for frequent use to reduce costs, then energy cost efficiency improves, but device complexity and initial expense increase

Engineering Contradiction:

Improveenergy cost efficiencyVSAvoidsystem complexity

Core Design Contradiction:

Use of energy by moving objectVSDevice complexity

Solution Approach 1:

The energy storage system in the patent serves multiple functions: it stores energy from renewable sources for later use during mining operations, provides backup power capacity, and enables participation in energy arbitrage markets. This multi-functionality justifies the initial complexity and expense by delivering diverse benefits that improve overall energy cost efficiency.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system pre-charges energy storage systems during periods of low energy cost or high renewable availability, preparing stored energy in advance for periods when mining operations require power. This preliminary action allows the system to maintain mining productivity during high-cost periods while achieving better long-term energy cost efficiency.

Inventive Principle:

Principle #10Preliminary action

3Object-affected harmful factors

If renewable energy is used for cryptocurrency mining, then environmental harm is reduced, but energy availability becomes intermittent and may insufficiently meet mining demand

Engineering Contradiction:

Improveenvironmental harmVSAvoidenergy availability

Core Design Contradiction:

Object-affected harmful factorsVSReliability

Solution Approach 1:

The patent merges renewable energy sources with energy storage systems and traditional backup power sources into a hybrid energy architecture. This combination ensures that mining operations can rely on renewable energy when available, switch to stored energy during intermittent periods, and maintain continuous operation through backup sources, thereby reducing environmental harm while ensuring reliable energy availability.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The system dynamically adjusts its energy sourcing strategy based on real-time conditions, switching between renewable energy, stored energy, and backup power sources as needed. This dynamic approach optimizes the use of clean energy while maintaining mining reliability during periods when renewable generation is insufficient or unavailable.

Inventive Principle:

Principle #15Dynamics

4Use of energy by moving object

If mining equipment is co-located at lower cost energy locations, then energy cost decreases, but adaptability to different geographic markets is reduced

Engineering Contradiction:

Improveenergy costVSAvoidgeographic adaptability

Core Design Contradiction:

Use of energy by moving objectVSAdaptability or versatility

Solution Approach 1:

The hybrid energy system with integrated storage and renewable sources creates a universally adaptable mining operation that can be deployed in diverse geographic locations. Rather than requiring specific low-cost energy locations, the system can operate effectively anywhere by locally sourcing renewable energy, utilizing stored energy, and adapting to local grid conditions, thereby maintaining cost efficiency while improving geographic adaptability.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS12283815B2Methods and systems for managing energy consumption of cryptocurrency mining

Publication Date: 2025.04.22 ESS TECH INC

AI summary

Systems and methods are provided for managing an energy storage system. In one example, a method may include directing energy stored in the energy storage system to a cryptocurrency mining system and another consumer responsive to conditions. Other consumers may include a third party consumer of energy and conditions may include current and predicted cryptocurrency values and current and predicted availability of cyclically available renewable energy.