Investigating the Cryptocurrency Mining Loads' High Penetration Impact on Electric Power Grid

【Author】 Hajiaghapour-Moghimi, Mehran; Tafreshi, Omidreza Heydari; Hajipour, Ehsan; Vakilian, Mehdi; Lehtonen, Matti

【Source】IEEE ACCESS

【影响因子】3.476

【Abstract】Cryptocurrency has become a pivotal player in global financial transactions due to its decentralized mining process, which eliminates the need for intermediaries. However, the operation of cryptocurrency mining devices (CMDs) requires significant electrical power, leading to an increase in network-connected cryptocurrency mining loads (CMLs) that pose challenges for power grid operators. This paper evaluates the integration of CMLs into power grids, focusing on distribution network performance. A technology-accepted model for assessing cryptocurrency mining performance is presented, along with an analysis of the impacts of high CML penetration on power grid planning and operation. Findings reveal that high CML penetration can complicate load forecasting, congest transmission lines, and increase the coincident peak load in distribution networks. A case study of Iran's power network indicates that CMLs account for approximately 2.8% of the nation's electricity consumption. Furthermore, if 5% of residential customers in Tehran install CMDs, the average coincident peak demand for this group rises by 26.81%. Additionally, the average power factor of a sample CMD is about 0.99, while total current distortion and third harmonic current exceed permissible limits, indicating potential power quality issues. This study highlights the challenges posed by CMLs and proposes strategies for their sustainable integration into power grids.

【Keywords】Bitcoin; cryptocurrency mining; distribution network; electricity rate; power quality

【发表时间】2024

【收录时间】2024-11-04

【文献类型】案例研究

【主题类别】

区块链应用-实体经济-电力领域