Texas Crypto Miners Shut Down Operations As Winter Storm Approaches

Texas Crypto Miners Shut Down Operations As Winter Storm Approaches

Texas Crypto Miners Shut Down Operations As Winter Storm Approaches For DailyBitcoin Editor

Texas Governor Greg Abbott had already asked miners in October 2021 to shut down operations for the US winter.

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Several crypto miners in Texas are already shutting down some or all of their operations as the region expects extreme weather due to a storm likely to test the state’s power grid this week. According to him US National Weather Service: “A massive, large-scale winter storm will affect the central, eastern, and southern US in the coming days. Heavy snow is expected from the Rocky Mountains south to northern New England, while a large ice dam is likely to accumulate from Texas to Pennsylvania.”

The miners, many of whom have moved to the state in recent months to take advantage of Texas’ low energy costs and abundance, say will reduce your energy consumption to help avoid a power failure similar to the one Texas experienced in 2021. That outage left about 4.5 million homes and businesses without power and caused nearly $200 billion in property damage.

These efforts will dovetail with those of the Electric Reliability Council of Texas (ERCOT), which operates the Texas network and said yesterday that it would use “every tool to manage the network.” Some of the miners will also take advantage of state incentives to reduce their energy use.

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Miners who have reduced energy

Riot Blockchain, one of the largest miners in North America, has already reduced its energy use at its Whinstone facility in Rockdale by 98-99%, he told CoinDesk Trystine Payfer, director of communications for Riot. “We will continue to do so as needed until there is no extreme strain on the ERCOT network,” he added.

ComputeNorth, which houses miners from Bitcoin in its data centers, he told CoinDesk who is also closely watching the storm. “We are prepared to respond in real time to reduce our operations in order to support ERCOT, grid stability and energy demand,” said the Director of Energy of Compute NorthPeter Liska.

Nathan Nichols, co-founder and CEO of the miner rhodiumbased in Texas, tweeted that miners in the state were “reducing your load starting TODAY to help provide surplus power reserves” for the storm

Help the miners

In Texas, there are programs available for large energy consumers, such as crypto miners, to incentivize them to reduce their energy consumption during periods of peak demand. For example, in exchange for helping ERCOT stabilize the network, Riot can participate in load management programs and other services, including some long-term lower fixed price deals, Payfer said.

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list of Compute North He said demand response programs, which allow customers to reduce their electricity use when energy prices are high, are one way the utility can balance energy generation and consumption during peak demand. .

“Instead of incremental power production, we reduce our load by feeding power back into the grid, which is more cost-effective and efficient than generating additional power reserves,” Lisa added.

On the other hand, it has come to light that Governor Greg Abbott of Texas went ahead and pleaded with miners in October 2021 to shut down operations for the US winter.

Sources: yahoo.com, Coindesk, beincryptoarchive

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Picture of Unsplash/storm benchmark

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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