Bitcoin miners in Texas (Riot Blockchain, Argo Blockchain and Core Scientific) have suspended operations and answered the call to conserve energy and spare the Lone Star State’s fragile power grid as demand has soared during an intense heat wave.
“There are over 1,000 megawatts worth of Bitcoin mining load that responded to ERCOTs conservation request by turning off their machines to conserve energy for the grid.” Lee Bratcher, president of Texas Blockchain Council told Bloomberg.
more details:
https://nypost.com/2022/07/13/texas-bitcoin-miners-halt-operations-to-save-energy-amid-heat-wave/My own question is,
are there laws available for miner to generate their own electricity just so that they could power the mining farms?
Because given the amount of energy been consumed by mining firms, it is best advised they generate their electricity so the Texas government could conserve energy for the rest of the people.
Laws are not created for folks/companies to
do things - laws are to prevent things. That said, as long as one follows applicable regulations anyone can generate as much power as they want (at least in the US).
Read my reply right above yours for the reason ERCOT and the mega farms have usage agreements in place. In more than 1 way the farms *are* paying for the power capacity needed. More important, with a known and well paying market (mining) that will take all they power they can get they give ERCOT a huge incentive to add more solar/wind generation to not only feed said market when conditions are right (good weather) but also have the miners shed a large part of their load when needed so the power can be used elsewhere in the state. There very few major power consuming industries that can do that. Win-win for all involved.
