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Open original source ↗UAE's peak energy demand are 3 days in the summer. Their capacity covers that. For the rest of the year, they have a surplus of energy, (some of) which gets converted to bitcoin. Durable store of value with lowest storage cost. Makes perfect sense. 🤷♂️
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@cz_binance The UAE has been mining Bitcoin through government-linked entities since 2022.
CryptoPatel ↗