Bitcoin, Unleashing an Ocean of Energy with Nathaniel Harmon - WBD563

Nathaniel Harmon is an oceanographer, Bitcoiner and cofounder of
OceanBit. In this interview, we discuss how an old technology
deriving energy from ocean temperature differences can provide
unlimited renewable baseload energy, and Bitcoin’s vital and
symbiotic role.


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In the 1880s, a French engineer devised an engine that generated
renewable energy from the oceans: Ocean Thermal Energy Conversion
(OTEC). It works by harnessing the large temperature differences
between warm ocean surfaces and cold deep waters. This can occur
within relatively short vertical distances (i.e. 100m). Such
differences can be used to evaporate ammonia, driving a turbine,
after which the ammonia can be re-liquified in a closed cycle
system.


The issue since the 1880s has been the technology has not been
able to achieve economies of scale in competition with cheaper
energy sources i.e. coal, oil and gas. The first OTEC plant was
built in the 1930s, following which a further 14 test plants have
been built at various times and geographies. But, no project has
been able to overcome the hurdle of progressing from prototype to
operational plant.


And yet, given the size of the ocean, OTEC is the largest
untapped renewable energy source in the world. Further, given the
temperature differences don’t subside at night, it is a baseload
supply. The potential is obviously huge. Anything that could be
used to offset the capital costs of the R&D phase could lead
to a new energy revolution. Enter Bitcoin.


Bitcoin mining’s utility in directly monetising energy provides
significant flexibility for developing a capital-efficient OTEC
prototype. Such a facility would not need to be tethered to
transmission lines: it would be able to exploit the best
locations for OTEC around the equator. The genius in the proposal
though is that OTEC and Bitcoin mining are symbiotic: access to
limitless cold water means mining efficiency can be maximised.


And there’s more. The production of energy in the ocean opens up
all kinds of opportunities that could literally change the world.
All from a technology that had all but been forgotten, but now
stands to be reinvigorated by Bitcoin.