Texas Crypto Miners Musk Seek Permission Before Using More Electricity

The Texas Electric Reliability Committee will now be in charge of authorizing the grid use of Bitcoin miners in the state due to the increased influx of firms into the crypto-friendly state.

Crypto Miners Flood Texas

Texas is now a cryptocurrency mining destination for several companies because it offers low-cost sustainable power, but worries are mounting about the condition of the state’s power system.

The state government has begun forcing large-scale bitcoin mining businesses to apply for admittance to its power sector. The move is being made in case of increased demand for electricity as other mining firms establish operations in Texas.

Bitcoin Revolution is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 

As stated in the report, ERCOT (Electric Reliability Council of Texas) is now asking corporations to present studies assessing the effect of miners’ farms accessing the grid prior to receiving “permission to use.” Members of the committee will make a decision on whether to establish a task group with the primary goal of preventing the electricity grid from overloading due to increased usage.

Recently, the number of companies for Bitcoin mining has increased drastically, and the power system was unable to endure the state’s devastating winter in 2021. Texas officials are attempting to avoid a repeat of this incident this year.

Concerns About Cryptocurrency Mining Power Usage

Cryptocurrency mining enterprises are likely to add more gigawatts this year. Before now, firms conducted their own research on energy consumption. Any project that adds 20 megawatts to the power site over the next 24 months will be subject to the new restrictions. For enterprises that don’t produce their own electricity, the minimum criterion for evaluation is 75 megawatts.

“We are already in discussions with ERCOT to guarantee that Bitcoin miners are not affected by this new regulation,” said Lee Bratcher, head of the Blockchain Council in Texas. 

Concerns about the power usage of Bitcoin mining have grown as a result of the entry of enterprises into the nation after China’s ban on crypto mining. Greenpeace began a campaign on Monday to modify the basic programming of BTC to anything other than proof-of-work protocol. The movement, led by Chris Larsen, co-founder of Ripple, seeks to eliminate mining in favor of ETH’s more environmentally friendly model. 

Revival Of A Kentucky Coal Community 

In a similar story, Kentucky is now a hub for miners as corporations want to revitalize defunct coal communities and take advantage of tax benefits.

As reported by Tech Crunch, Cryptocurrency mining companies are reusing former coal mines and devising ways to generate sustainable energy to fuel their machines. BeInCrypto revealed at the beginning of March that Blockware Solutions is an example of a company attempting to use coal for mining operations in Kentucky.

start trading

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

Previous post Bitcoin Addresses Increases As It Continues Its Bullish Run
Next post More Trouble For Crypto As The European Parliament Votes Against Decentralization