Crypto Miners' Electricity Use in Texas Would Equal Another Houston

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https://www.bloomberg.com/news/articles/2022-04-27/crypto-miners-in-texas-will-need-more-power-than-houston

Crypto Miners’ Electricity Use in Texas Would Equal Another Houston

ByNaureen S Malik
April 27, 2022, 3:30 PM EDT
Updated onApril 27, 2022, 5:47 PM EDT

- Ercot expects miners to require 6 gigawatts by mid-2023

- State has been aggressively courting cryptocurrency miners

The Texas grid operator expects crypto miners to increase electricity demand by up to 6 gigawatts by mid-2023, more than enough to power every home in Houston.

The forecast from the Electric Reliability Council of Texas is the first official estimate on how much stress miners are apt to put on the state’s electrical system. Officials expect 5 to 6 gigawatts of new demand over the next 12 to 15 months, the equivalent of up to about 1.2 million homes.

It’s just the tip of the iceberg. All told, about 17 gigawatts worth of crypto miners have inquired about plugging into Texas’s grid, according to Brad Jones, Ercot’s interim chief executive officer.

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