The crypto miners they have another concern in certain US regions, apart from the price of bitcoin and the storm that the cryptocurrency sector is going through: the heat. Specifically, the one he does in Texas. In this state, temperatures are going to exceed 40 degrees this week, and apparently, the state’s electrical system is not in the best condition to withstand that much heat. That is why, according to The Verge, those responsible have asked please to large energy users to please leave the system free when consumption skyrockets. This is, in the hottest hours.
One of these big users of electricity is, of course, the cryptocurrency mining sector. And the main cryptominers in the state have decided to turn off their systems so that the power supply in the state is not in danger. The Blockchain Council of Texaswhich represents some 40 members and several cryptocurrency companies, has decided to shut down its systems for a few days, although they will only release about 1% of the capacity of the Texas Network.
The Speaker of Congress Lee Bratcher, has stated that they were trying to be good citizens. But also that since energy prices skyrocket when there is a high demand for electricity, they have incentives to reduce their activity in the stages in which this high demand occurs. As for Riot blockchain, the largest crypto miners in the state are going to reduce consumption as long as necessary to keep the network stabilized.
Texas is currently experiencing a heat wave that began in early July and is expected to last beyond this week, with temperatures in the mid-40s and higher, which are breaking several heat records in the state.
Last Monday, the Texas Electrical Reliability Council, known as Ercotcalled on residents and businesses to try to spend a little less electricity at peak times, citing record electricity demand, because the heat fungus engulfing Texas has also put most power generators out of business. wind energy on which the state depends, which now only has the energy it can generate from the solar panels it has.
But this reduction in specific consumption by cryptominers has nothing to do with their usual consumption, which in fact Ercot expects to increase to 6 gigawatts by mid-2023. A level of consumption equivalent to that of the sum of all homes in Houston. For now, in Ercot they assure that they have enough energy generation to cover the demand, although the truth is that we must not forget that it is a network that has failed its forecasts several times, which has led to failures.
Whether there is enough power or not, crypto mining operations have mushroomed in the state, thanks to incentives from pro-crypto lawmakers and an unregulated power infrastructure. Something that happens in fewer and fewer states, which are progressively more reluctant to allow these operations.
In fact, New York is close to issuing a partial moratorium on its activityY China has already declared them illegal.. Iran has cut off their power, and Kazakhstan has already struggled to both support the energy demand of crypto miners and heat the homes of its citizens during the often very cold winter. For all of this, Texas crypto miners have all kinds of reasons to get along with Ercot and continue to enjoy the status they have in the state.
