Texas miners have reduced the load on the power grid ahead of winter storm

They want to free up reserve capacity for heating homes

03.02.2022 - 13:25

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They want to free up reserve capacity for heating homes.

What’s new? A number of companies in the US state of Texas, which are engaged in mining, have decided to reduce the load on the power grid as of February 3. Such a decision was made by the enterprises ahead of the winter storm Landon. The head of the local mining company Rhodium, Nathan Nichols, posted about it on his Twitter.

Texas based Bitcoin miners are curtailing their load starting TODAY to help provide excess power reserves for #WinterStormLandon. We are proud to help stabilize the grid and help our fellow Texans stay warm. 🤝#Bitcoin @txblockchain1— Nathan Nichols (@Nathannichols) February 2, 2022

How did the miners explain their actions? Riot Blockchain has already announced its intention to reduce power consumption at a mining farm in Texas. The company’s shares fell 6,56% to $14,55 on this news. Riot Blockchain has also been joined by Compute North, providing data centers to local cryptocurrency miners.

By reducing load, Nichols said, the companies are providing an opportunity for energy organizations to direct reserve capacity to heat homes. Last year, a winter storm that hit Texas left 4,5 million homes and businesses without power.

What had happened before? In late January, Texas Governor Greg Abbott urged miners to come to Texas. In his opinion, cryptocurrency mining will help stimulate power generation in the region, which will lead to the stabilization of the entire power system in the state.

Link to Governor’s statement

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