Texas Grid Operator’s Forecast Could Dampen State’s Bitcoin Mining Dreams

Published on June 15, 2024

Texas’ electricity grid operator revealed its new five-year forecast during a state senate committee hearing earlier this week, and the revelations could dampen the state’s bitcoin mining dreams. Officials from the Electric Reliability Council of Texas (ERCOT), the organization that manages the state’s grid, testified on June 12 at a Senate Business and Commerce Committee hearing in Austin that cryptocurrency mining and artificial intelligence (AI) data centers could impact the reliability of the state’s power grid. ERCOT CEO Pablo Vegas told the committee that, based on ERCOT’s latest five-year forecast, power grid demands are expected to nearly double by 2030....

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