Crypto Miners + West Texas

What’s happening? Argo Blockchain, a Canadian cryptocurrency mining company, built a facility in Dickens County, Texas. Population 2300. The reason: Available cheap energy.

Why is this important? Texas has a deregulated energy market, “which means customers can choose between different power providers and providers are thus incentivized to provide low rates.” This translates to long term contracts at low rates.

How will this be important? If Texas adopts market reforms will these contracts be impacted? Miners consider themselves a virtual power plant based on their power agreements.

The Guardian | Why bitcoin entrepreneurs are flocking to rural Texas