Bitcoin operations paid by ERCOT to conserve
– the most power-intensive Bitcoin operation in the country – $31.7 million during the month of August to conserve energy, aRiot, located in Rockdale, an hour west of Austin, is by no means a successful operation – CNBC reported that they only made about $8.9 million this month. So they and other failing Bitcoin operations are turning to “alternative sources of income,” as CNBC puts it – like the Texas grid operator – to generate profits.
The Electric Reliability Council of Texas relies on large industrial consumers for “demand response” programs, where they offer credits in exchange for conservation. They rely on average residential customers for the same thing – just without the compensation. This practice has sparkedamong Texans who have been repeatedly asked to conserve voluntarily amid triple-digit heat, while actually paying higher electric bills than usual.
Currently the only compensated demand response program available to Austin Energy ratepayers gives customers who install
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