I share the skepticism of many of my fellow urbanites about the benefits of our cities bribing companies like Amazon to set up shop in our backyard. However, as a native of a town of 1,600 who transplanted to the city less than a decade ago, I know first hand the urge to move to the city to pursue personal and professional longings.
Crypto-mining, the process by which a global network of computers verify Bitcoin transactions, could allow for more renewable energy sources like wind and solar to be integrated into our electricity systems. By running off electricity that would otherwise be curtailed because of low demand, crypto-mining could allow more clean energy to be profitably built on the grid.
It may be financially prudent for the state's Permanent University Fund to diversify its portfolio away from fossil fuels. If such assets are still going to be valuable for some time, however, it would be counterproductive to divest from fossil fuels rather than putting those revenues to good use.
