Bitcoin Miners In Texas Back Online After Shutdown To Ease Stressed Power Grid
An industry body announced on Wednesday that major bitcoin mining facilities in Texas have resumed operations following power outages earlier in the month caused by hot temperatures that triggered a rise in electricity use. According to sources, operators ceased mining operations in the face of a massive increase in electricity use caused by rising temperatures that prompted […]
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While the state is eager to become the global hub for Bitcoin mining operations, residents are concerned that the power grid will not be able to handle the load. As the state of Texas faces a rapid influx of Bitcoin mining operations, its electrical infrastructure will have to support the industry’s expected 5,000 megawatts (MW) of additional power demands by 2023.The Bitcoin mining industry in Texas currently consumes around 500 to 1,000 MW of power. The Electric Reliability Council of Texas (ERCOT) anticipates that demand could increase as much as fivefold by 2023 and has planned an....
Miners dislocated by China’s crackdown are looking to Texas for cheap electricity, but the state’s grid is already on the brink of disaster amid a sweltering summer. The recent crackdown on crypto mining in China has seen concerns expressed over the potential impact a hashrate migration could have on Texas’ unreliable electricity market, as an increasing number of dislocated miners eye the Lone Star State.Texas’ abundant sources of renewable energy and highly deregulated power grid make the state an obvious choice for migrating miners from China and elsewhere, with 20% of Texan electricity....
“The U.S. is where the action is in terms of markets, so we plan to be in at least another couple of states as well as Texas with some diversified offering," said CEO Andy Long. Amid many cryptocurrency mining firms in Texas scaling down operations to reduce the load on the power grid, at least one company set up miners not quite as affected by the state’s energy requirements during extreme heat.In June, White Rock Management expanded its crypto mining operations to Texas — its first in the United States — but reported its facility in the Brazos Valley region would mine Bitcoin (BTC) using....
"The company voluntarily curtailed its energy consumption in order to ensure that more power would be available in Texas,” said Riot CEO Jason Les. Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility.In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating in July 2021. According to Riot CEO Jason Les, the firm curtailed operations by 11,717 megawatt-hours in July in response to increasing....
Kristy-Leigh Minehan said the state doesn't currently have enough mining infrastructure to cause significant problems for the power supply. Though many Texans are still suffering in the aftermath of a winter storm that left millions without power and running water for days, it’s unlikely that the crypto mining farms in the state played much of a role during the crisis.Speaking to Cointelegraph, Kristy-Leigh Minehan, a mining consultant and chief technology officer of NEM Software, said Texas doesn’t currently have enough mining infrastructure to cause significant problems in the power grid....