"The large amounts of electricity used by computer servers for cryptocurrency “mining” pose a growing challenge for utilities such as the Chelan County Public Utility District, to which miners are drawn by the cheap rates for power. This unauthorized setup in Cashmere was discovered in 2015. (Chelan PUD)
Bargain electric rates are attracting digital currency entrepreneurs, but three public utilities districts are reassessing how they deal with the surging demand, and whether they should even try to keep up. Residential customers, meanwhile, worry that their rates will go up."
https://www.seattletimes.com/business/bitcoin-backlash-as-miners-suck-up-electricity-stress-power-grids-in-central-washington/Thoughts?
Do you think this was the reason for the recent dips? Interesting news anyway and would like to hear what you think.
The real concern should about is the use of the electricity for mining, cost other businesses from using it? If a power that generates say 10,000 MW and only 6,000 is being used but now with the mining activities, its increased to say 9,000MW, I don't see any problem after all, its being paid for and not in any way stealing since they are selling power, miners are ready to buy. Its a win-win situation.
