Jihan Wu: BTC mining can absorb Europe's surplus solar power

Jihan Wu, founder of Bitmain and Bitdeer, stated on his X account that Bitcoin miners could become a ready buyer for the surplus electricity generated by Europe's oversupply of solar power. He explained that the cannibalization of solar power in Europe, where oversupply erodes profitability, has reached a serious level. This is because the pace of solar energy adoption is outstripping the grid's ability to adapt and ensure flexibility. Wu noted that while solutions like battery storage, grid expansion, and flexible demand response are essential, using the surplus power for Bitcoin mining and other computing needs should also be seriously considered. He concluded that a properly designed, flexible power demand could serve as the ultimate buyer for excess renewable energy.