Texas miners suspended due to load on the power grid

After disconnecting the equipment, more than 1000 MW were released

12.07.2022 - 11:15

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What’s new? Almost all industrial miners have suspended their operations in Texas at the request of the Electric Reliability Council of Texas (ERCOT). High temperatures in the state could put a critical load on the power grid, Bloomberg reports. Texas Blockchain Council president Lee Bratcher noted that about 1000 MW, more than 1% of the state’s total grid capacity, was released after large miners were shut down.

Bloomberg’s material

Mining in Texas. Among the companies that shut off their rigs are Riot Blockchain, Argo Blockchain, and Core Scientific. Many miners have located their equipment in Texas, because of low electricity rates in the state. Thus, in comparison with New York, the cost of 1 kWh is 48% cheaper. Texas has become one of the largest cryptocurrency mining centers in the world in terms of computing power. At the end of 2021, its share in the global BTC hashrate was 11,22%, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI).

According to the Electric Reliability Council of Texas, a record level of 78 206 MW of power consumption was recorded on July 8.

“Currently, 100% of the machines located in Texas have been powered off to provide support for the ERCOT grid. In troubled situations including the current Texas heat event, we have been curtailing power and will continue to curtail power as needed,” Core Scientific CEO Mike Levitt said.

In June, Texas miners were already disconnected from the grid at the request of ERCOT. The reason was the same high temperatures. An increased electricity tariff was back then imposed during peak hours.

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