With bitcoin mining booming in Texas, US, its grid operator Electric Reliability Council of Texas (ERCOT) expects a fivefold increase in energy load. Over the next two years, until 2023, ERCOT predicts that it will need to produce at least 5,000 MW more electricity to support crypto mining and data centers. ERCOT officials told the media during a recent conversation that the crypto industry in Texas is already consuming 1,000MW of electricity.
Texas a. emerged as Bitcoin Mining hub after Chinese government criminal All crypto-related activities at the beginning of this year. Excessive power consumption in crypto mining was one of the important reasons for China to take drastic measures.
The state offers crypto miners a 10-year tax exemption, sales tax credit and state-sponsored workforce training, attracting more of them, a report good Said by Data Center Dynamics.
Currently, two of the largest cryptocurrency mines in the world are under construction in Texas.
Texas is on the way to becoming #bitcoin America’s mining capital as a result of its deregulated electricity landscape, affordable energy costs and welcoming lawmakers. ????
— Sofia Zalar ???? (@sophiamzaller) July 9, 2021
Many residents of the state have linked this energy-consuming process of bitcoin mining to the power outages they face.
In February 2021, the Texas Electricity Board found itself on the receiving end of criticism for mismanagement of the electricity supply, leading to blackouts and days with no heat to sustain the winter. During this, hundreds of people lost their lives due to lack of heat and lack of food. Even industries shut down.
At the time, ERCOT blamed extreme weather conditions, which are expected to increase as an issue due to anthropogenic climate change.
Texas residents are currently concerned about adding more stress to an already-loaded power-grid system.
according to a research report goodCryptocurrency mining hardware is constantly running, therefore consuming energy.
Between 1 January 2016 and 30 June 2018, mining operations for the four major cryptocurrencies released an estimated 13 million metric tons of carbon dioxide.
However, in recent times, several pro-crypto sectors are trying to power crypto mining with clean energy resources to decarbonize the process.
Miami Mayor Francis Suarez has also proposed setting up a bitcoin-mining facility near a nuclear power plant in Florida. according to a report Latest News by Today, nuclear power is on the verge of being recognized as a true Environmental, Social and Corporate Governance (ESG) solution in terms of energy.