Methods and systems for managing energy consumption of cryptocurrency mining
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.
1. A method for managing an energy storage system, comprising:
receiving inputs and performing programmatic calculations using the inputs, wherein the inputs include a current cryptocurrency economic value and a future cryptocurrency economic value;
wherein performing the programmatic calculations using the inputs comprises:
comparing the current cryptocurrency economic value with a current energy cost of mining cryptocurrency;
determining if mining the cryptocurrency is cost-efficient, wherein mining the cryptocurrency is cost-efficient when the current cryptocurrency economic value is greater than the current energy cost of mining cryptocurrency or when the future cryptocurrency economic value is greater than the current energy cost of mining cryptocurrency;
responsive to determining that mining the cryptocurrency is cost-efficient, determining a first percentage of energy to use for mining and a second percentage of energy to store based on the programmatic calculations;
responsive to determining that mining the cryptocurrency is not cost-efficient, determining a third percentage of energy to use for mining and a fourth percentage of energy to store; and
responsive to determining that an available amount of storage in the energy storage system is less than a threshold amount, determining an amount of energy to discharge, wherein the amount of energy to discharge comprises a seventh percentage of energy to be sold and an eighth percentage of energy to be dumped;
the method further comprising directing stored energy in the energy storage system to the cryptocurrency mining system based on the first percentage or the third percentage and to another consumer based on the seventh percentage of energy;
wherein the third percentage is greater than zero but less than the first percentage.
2. The method of claim 1 , wherein the inputs include an operating condition of the energy storage system.
3. The method of claim 1 , wherein the inputs include an estimate of energy availability for storage.
4. The method of claim 1 , wherein the inputs include an amount of consumer demand.
5. The method of claim 1 , wherein the cryptocurrency mining system and the energy storage system are co-located.
6. The method of claim 1 , wherein available energy for storage is cyclically available renewable energy, and the first percentage, the second percentage, the third percentage, the fourth percentage, the seventh percentage, and the eighth percentage are based on a timing of availability of cyclically available renewable energy.
7. The method of claim 1 , wherein the first percentage, the second percentage, the third percentage, the fourth percentage, the seventh percentage, and the eighth percentage are based on a timing of availability of cyclically available renewable energy responsive to user settings.
8. The method of claim 1 , wherein the first percentage, the second percentage, the third percentage, the fourth percentage, the seventh percentage, and the eighth percentage are based on an adaptive learning of timing of availability and an available amount of cyclically available renewable energy and adaptive learning of timing of demand and a demand amount of the cryptocurrency mining system and the another consumer.
9. The method of claim 1 , wherein the first percentage, the second percentage, the third percentage, the fourth percentage, the seventh percentage, and the eighth percentage are based on a timing of availability of cyclically available renewable energy and are further responsive to override conditions set by a user.
10. A method for managing an energy storage system, comprising:
directing available energy for storage to the energy storage system and to a cryptocurrency mining system responsive to conditions, including operating the energy storage system while it is cost effective to mine and, during the operation where it is cost effective to mine, directing a first percentage of energy to the cryptocurrency mining system; and operating the energy storage system while it is not cost effective to mine and, during the operating where it is not cost effective to mine, directing a second percentage of energy towards the cryptocurrency mining system, wherein the second percentage is greater than zero and less than the first percentage.
11. The method of claim 10 , further comprising directing stored energy in the energy storage system to the cryptocurrency mining system and another consumer responsive to renewable energy availability timing and amounts, demand patterns, energy costs, and cryptocurrency economic value.
12. The method of claim 11 , wherein the conditions include an operating condition of the energy storage system.
13. The method of claim 11 , wherein the conditions include an estimate of energy availability for storage.
14. The method of claim 11 , wherein the conditions include an amount of consumer demand.
15. The method of claim 11 , wherein the cryptocurrency mining system and the energy storage system are co-located.
16. An energy storage system, comprising:
a consumer, wherein the consumer is an individual or business that uses energy;
an energy storage device;
a cryptocurrency mining system; and
a controller configured with computer-readable instructions stored on non-transitory memory that when executed cause the controller to:
predict a predicted energy cost for a future point in time using weather predictions of weather events and historic power demands during the weather events;
predict a predicted cryptocurrency value based on market conditions; and
adjust energy flow to each of the consumer, the energy storage device, and the cryptocurrency mining system based on user settings, operating conditions, and renewable energy source availability,
wherein the controller adjusts 100% of the energy to the cryptocurrency mining system in response to a current cryptocurrency value and the predicted cryptocurrency value each being greater than a current energy cost and the predicted energy cost, and
wherein the controller adjusts energy flow to be divided between the cryptocurrency mining system and the energy storage device in response to the current cryptocurrency value being greater than the current energy cost, the predicted cryptocurrency value being higher than the current cryptocurrency value, and the current energy cost lower than the predicted energy cost; and
wherein the controller adjusts energy to be discharged when the energy storage device is full, wherein discharging energy includes selling the energy to the consumer or dumping the energy to ground or to a power grid.
17. The energy storage system of claim 16 , wherein the cryptocurrency mining system and the energy storage device are co-located.
18. The energy storage system of claim 16 , wherein the energy storage device is physically integrated into the cryptocurrency mining system.
19. The energy storage system of claim 16 , wherein the controller is in communication with a cloud network, and wherein the cloud network inputs renewable energy source availability information to the controller.
20. The method of claim 1 , wherein the predicted cryptocurrency economic value is based on adaptive learning of market conditions.