Austin, TX, December 23, 2022 --(PR.com)-- As Texas and much of the U.S. confronts the challenges of this winter storm, the bitcoin mining industry in Texas is playing a part in supporting the Texas grid during this challenging time by proactively curtailing power. Bitcoin miners in Texas and the Texas Blockchain Council are working with grid operators in Texas as they are closely monitoring the situation, and stand ready to contribute to the state’s efforts to ensure reliability and keep families warm and safe during the extreme weather.

During times of tight grid conditions, large flexible loads are critical. Steve Kinard, the Texas Blockchain Council’s Director of Bitcoin Mining Analytics noted that, “The bitcoin mining industry is the leading source of flexible load in Texas, and Texas leads the nation in developing a market environment in which ERCOT has this valuable tool at its disposal.”

Just as bitcoin mining operations in Texas responded effectively when grid conditions were tight in July, the industry is prepared and even taking proactive action during this week’s cold weather. As a large flexible load, bitcoin mining is a large consumer of electricity that is able to quickly respond to market conditions by reducing or eliminating electricity consumption. Extreme weather events often drive sharp increases in electricity demand at a time when generation resources may be scarce or can struggle to operate at full capacity.

Riot Blockchain has announced the closure of its Rockdale facility, the largest bitcoin mining operation in the world, as a safety precaution. Other miners have voluntarily curtailed 99% of their power including Genesis Digital Assets and Rhodium while the remaining miners are standing by to curtail if power reserves get tight.

The diverse membership of the Texas Blockchain Council, which encompasses industry operators, service providers, and investors, are united in ensuring the bitcoin mining industry continues to be a positive and valuable corporate and grid citizens in Texas.

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https://www.pr.com/press-release/875698