Good.
Texas’ utility regulator on Thursday adopted a rule requiring cryptocurrency mining facilities connected to the state’s main electric grid to register with the state’s grid operator.
The rule, which was mandated by lawmakers in a 2023 bill, requires crypto mining facilities that consume more than 75 megawatts of power to tell the Public Utility Commission and the Electric Reliability Council of Texas, which oversees the state’s power grid, the facility’s location, ownership and electricity demand.
Crypto mining, which consumes vast amounts of power to run and cool its computers, has been growing in Texas, contributing to a surge in electricity demand across the state. The rule was designed to help the state see how much electricity crypto facilities will consume and protect the grid’s reliability.
“This is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape,” PUC Chairman Thomas Gleeson said in a statement. “Most importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans.”
Existing facilities must register by Feb. 1 and renew their registration annually. Companies must also provide each facility’s anticipated peak load for the next five years, in addition to the actual power the facility consumed in the prior year.
Failure to register could result in up to a $25,000 penalty per violation per day.
[…]
As of July, ERCOT estimated that crypto facilities on the main grid could use up to 2,600 megawatts of power — about the same amount of power used by the city of Austin. The state recently approved crypto mining facilities that are expected to use another 2,600 MW of electricity, and more are expected to locate in Texas soon.
That growth, in addition to increasing interest in Texas from data centers, hydrogen production facilities and oil and gas companies that are electrifying their drilling operations largely concentrated in the Permian Basin, has driven ERCOT’s prediction that electricity demand in Texas could nearly double within six years.
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See here and here for some background. Cryptomining is responsible for other problems as well that I don’t think get nearly as much attention politically. They’re not the only cause of the surge in demand for power, and I have questions about how or even whether those penalties will ever be enforced, but this is a good start. And the law in question was authored by a Democrat, Dallas Sen. Nathan Johnson. So that’s good too.
You wanna see some crypto madness, check this place out. Only two hours from Houston:
https://www.riotplatforms.com/bitcoin-mining/rockdale/
Giant f’in power suck for the State.
Said it before, will say it again – make these folks provide their own power (solar, wind, etc.).