PANews reported on November 29 that according to Matthew Sigel, head of digital asset research at VanEck, Australian financial giant Macquarie, which manages $870 billion in assets, said that Bitcoin mining helps support the stability of the local power grid. Macquarie pointed out that by flexibly adjusting power demand, Bitcoin mining can absorb excess power when the power grid is less stressed and reduce power consumption during peak periods, thereby optimizing energy use and supporting the integration of renewable energy.