You know what's worse than Crypto Winter? Actual winter. A Texas crypto miner shut down 99% of its operations as weather gets icy.
According to Payfer, major Texas-based miners use an estimated1 gigawatt for operations under normal conditions, permissible with the state’s power grid. According to ERCOT’s website, Texans are using 35,016 megawatts, or MW, at the time of publication, with the firm stating there is “enough power for current demand.” However, ERCOT’s forecast
this demand could increase more than 42% in the next 24 hours, peaking at 49,786 MW when temperatures drop to their lowest: roughly -8 C in Dallas.“Just as important as the positive market signals we send to generators is our unique ability to immediately shed load when ERCOT demands it. This sort of demand response has and should continue to be a powerful tool in any grid management strategy.”
In 2021, millions of Texans experienced days without power as a once-in-a-decade winter storm not only increased demand on the grid operated by the Electric Reliability Council of Texas, or ERCOT, but shut down many power plants, froze generators and otherwise disrupted the flow of electricity to many residents needing heat. Despite many crypto mining operations calling Texas home, some experts posited that operations in the state were“I don’t know if it’ll be worse than last year,” said Payfer.
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