40% of bitcoin mining energy used is with the Texas grid

dentonrc.com

6 points·papito··8 comments

In theory, it’s a good thing - Bitcoin miners but up energy most of the time and that additional capacity can be directed towards cities in the event of another cold snap / heatwave. It remains to be seen how that works out for them long-term, but in general Bitcoin miners are extremely price sensitive on electricity so if the cities are willing to pay a slightly higher price they’ll probably get it.

"Data from the state’s grid operator, the Electric Reliability Council of Texas, or ERCOT, affirms its growing mining presence. The U.S. has about 3,500 megawatts of Bitcoin mining capacity, and more than 40% of that is with ERCOT, according to estimations from Lee Bratcher, president of the Texas Blockchain Council."

And then they urge people to conserve power...

Well, they need you to stop using power to live your life so that they can keep living theirs the way they want

It's a poorly worded paragraph. ERCOT is affirming a growing mining presence in Texas. 40% of US's Bitcoin mining capacity is used in Texas. It's not ERCOT itself doing the mining.

Did they tell the miners they can't operate between 3pm and 8pm, like everyone else in Texas is supposed to conserve?

I don't think so....

Headline is misleading - 40% of Bitcoin energy usage is in Texas, not 40% of Texas energy is used in mining.

That is very true. Changed it. Still, that must be a very solid chunk of their available energy.

40% of Bitcoin energy usage in the US is in Texas.

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