I donât think bitcoin is the issue Mik. That might be easier to fix than the underlying problem.
In 2011 I had possibly the largest datacenter in Ireland, but today it would be dwarfed by the megacentres which have popped up on the Island. Also, because of the size and density of the equipment it used a lot less power per M2 than today.
Due to Irelandâs corporate tax regime many tech companies, even those that already had a presence, beefed up their Irish operations, IBM, for example, grew from 500 HC to 5,000 HC in the mid nineties. Even more so, other companies that had no presence arrived, Google (now 14,000 HC), Amazon (6.5 HC), Facebook, Twitter and many others located their EHQs , sales centres, call centres etc. or some other significant presence so their Europewide profits (ie tax) flowed through Ireland.
Now, of course, unlike thirtyish years ago when datacentres needed to be close to users they can be anywhere in the World, and IMO sensible countries donât want them. There was some excuse when these companies first came to Ireland, but not anymore. They provide minimal employment after the initial construction, and are power black holes. Especially any ones now running Nvidia chips, ie AI.
However, based on their significant employment presence, corporate tax revenue and the threat of reduced future investment, these companies can apply significant leverage (if this wasnât an open forum one might say blackmail) on the Irish Government to be allowed to build megacentres. Though even Apple with its 44 year presence in Ireland has been frustrated, which is a good sign. I think they are now building in the UK.
The standalone megacentre operators, those who I guess would sell raw capacity to, for example, bitcoin companies, donât have that leverage. Though I do rememeber some targeting Ireland as a desination even in my time. I had a tour of one of their facilities, still empty at that stage.
So I think itâs the established firms burning the power not âBit Barnsâ (whatever they are ).