The Bitcoin miners in Texas have returned a lot of energy that they were going to use for mining. For Context, it can power 1.5M houses.
During the storm that Texas faced this winter in their crypto market back in Dec 2022, the BTC mining operators have returned fifteen hundred MW of energy to the local grid. This successfully happened because of the ancillary services that the authorities of the state provided and the flexibility shown in the mining operations.
The president of the Texas blockchain council, Lee Bratcher said that the btc miners of the state have returned enough power to the power grid of the state that can power 1.5M small houses or can keep at least 300 of large hospitals completely operational.
Although the precise time frame in which producers collected thus much power is unknown, on December 24 and 25, 2022, overall utilization rate of Bitcoin decreased by 30% globally. The ancillary services of TX, which encourage consumers to cut back on usage during high demand periods in order to maintain the grid, seemed to have miners as its ideal clients.
The Energy Returned By The Miners Group Of Texas Can Power 300 Hospitals:
Because to the harsh winter snowstorm in North America, Binance’s cryptocurrency mining services were unavailable from December 24 to December 26. A “bomb cyclone” blasted extreme temperatures within days before Christmas, rendering millions of Americans without power and taking hundreds of lives.
The ERCOT devised a temporary procedure in Mar 2022 to make certain that new big loads, including BTC miners, may be added to the ERCOT system. In order to make sure producers have the equipment necessary to effectively enable grid rebalancing, software vendors have also started collaborating with them.
