Eskom could supply power to miners of another kind

Eskom, yes the power utility with R400-billion in debt that could barely keep the lights on in 2023, is considering letting computers do what users no longer want to do: pay for its electricity.

- Lindsey Schutters

In 2024, South Africa experienced a 3% decline in electricity demand. Sounds bizarre in a country plagued by load shedding, right? But many households and businesses have been opting out of Eskom altogether and installing solar power.

Enter bitcoin mining, which is basically the process of validating bitcoin transactions by solving complex cryptographic puzzles.

It’s ridiculously energy-hungry. The mining rigs — specialised machines using ASICs (application-specific integrated circuits) — run 24/7 and guzzle electricity like a first-time Comrades runner at a water station.