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426: Bringing Lightning To Utilities with Synota

Jun 6, 2023
TFTC Podcast

426: Bringing Lightning To Utilities with Synota

426: Bringing Lightning To Utilities with Synota

Synota is a company sitting at the intersection of energy, bitcoin mining, and the lightning network. It's goal is to create more efficient energy markets that enable utilities companies to settle payments from their customers instantly and efficiently. In this rip, the Synota team explains what they've built and how it enables more efficient capital strategies for utilities companies and their mining customers and how the market may evolve as their model catches on. Bitcoin is making the energy sector efficient in many different ways and over time it should lead to a more distributed and robust energy system that is beneficial for end consumers.

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6:35 - Meet Synota
14:05 - Payment settlement struggles for utilites
16:56 - How Synota integrates
23:47 - Financing possibilities
26:20 - Utilities grokking bitcoin
34:07 - Effects of decentralizing the grid
45:22 - The team’s orange pilling
49:41 - Mining industry is maturing
55:56 - Efficiency impact of instant payments
1:01:11 - Mining permanent funds
1:05:03 - Issues building on lightning
1:10:57 - Wrapping up



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