Multi-objective energy management system for multi-microgrids using blockchain miners: A two-stage peak shaving and valley filling framework

This study presents an innovative energy management framework for multi-microgrids, integrating the burgeoning domain of cryptocurrency mining. Cryptocurrencies, a novel fusion of encryption technology and financial currency, are witnessing exponential global growth. This expansion correlates with a surge in the prevalence of mining activities, amplifying electricity consumption and necessitating accelerated advancements in urban transmission and distribution infrastructures, coupled with increased financial investments. Despite cryptocurrencies' growth, comprehensive research to capitalize on their potential is scarce. This article introduces an operation cost model for miners in the proposed dual-stage framework. The first stage is dedicated to day-ahead scheduling, focusing on peak shaving and valley filling in the electricity demand curve, while concurrently optimizing operational costs. The second stage, updating each 5 min, minimizes imbalances in response to uncertain network conditions. A pivotal feature of this framework is the allocation of revenues generated from mining operations towards enhancing renewable energy resources. Empirical simulations underscore the framework's efficacy, evidenced by a substantial peak shaving of 482.833 kW and valley filling of 4084.42 kW. Furthermore, this approach effectively maintains operational costs within a feasible spectrum. Notably, the demand curve's peak-to-valley distance extends to 4 MW, with the revenue from mining activities alone sufficient to offset operational expenditures. © 2024 The Author(s). IET Blockchain published by John Wiley & Sons Ltd on behalf of The Institution of Engineering and Technology.