Summer will be hot, especially for crypto miners – If we can expect overconsumption electricity and energy in winter compared to the rest of the year, it turns out that summer has also become a period of high demand tension. Between air conditioning, fans and other cooling systems running at full speed with the high temperatures, the electricity network of the State of Texas in the USA is pushed to the limit. The bitcoin (BTC) miners must adapt to this limited room for manoeuvre.
An electricity demand that exceeds 80,000 MW in Texas!
This summer 2022 is not only hot in France, the inhabitants of Texas are also drowning in strong heathigher than normal even for this already arid region of the United States.
As Cointelegraph reports in particular, theElectric Reliability Council of Texas (ERCOT) – that monitors power consumption – identified several records electricity demand on the Texas grid during the month of July.
This request even exceeded the symbolic 80,000MW (megawatts) of electrical power. A situation of high tension which saw the ERCOT ask residents and businesses to ease off on their consumption. Including of course for cryptocurrency miners, on their production.
So the July 19according to the CEO of the young crypto-mining company Argo Blockchainhis company had to significantly reduce its bitcoin mining activities that day.
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“Green” crypto-mining farms fare better
Crypto-mining companies based on green energy seem like a lot suffer less of this voltage to the central electricity grid. According to Franck Holmes, CEO of Hive Blockchain Technology,
The latter explains that their bitcoin and ether (ETH) mining farms are designed to use 100% renewable energy (solar and wind) which, even in the case of Texas, “will not disrupt the state power grid”.
More than ever, a kind of ” natural selection “ between minors. Those who operate facilities at low electrical cost thanks to overcapacity/waste of energy productionand/or with facilities autonomous thanks to renewable energy, are the most likely to succeed in surviving anything that impacts crypto-mining. Whether it’s the falling prices of the crypto market, or of strong tensions (limiting) on the local electrical network.
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