By the Numbers. Bitcoin Mining Energy Use in Texas

What is happening? We now have information concerning energy use for 2 new bitcoin miners in Texas. Let’s look:

• Rayburn Country Electric Cooperative Inc., Service Area Bitcoin Mine
  • Each mine will require $20 million to fortify power lines and avert blackouts
  • Will consume as much energy as 60,000 homes
  • Researchers say mining adds $8 for individual utility bills, and $12 for small businesses
  • Global crypto mining uses as much electricity as powering every light in the U.S.- twice

Why is this important? The 3 factor helping bitcoin mining companies: little regulation, affordable electricity & a political leadership wanting Texas to become an epicenter of crypto mining.

How will this be important? China ceased crypto mining in the fall of 2021. All those mining companies need a home. ERCOT members will vote this month on creating a task force to understand how many mines will connect to the grid and how fast.

Government Technology | Bitcoin Mining Threatens to Further Strain Texas’ Electric Grid

The Street | In Texas, an Influx of Crypto Miners May Mean Higher Electricity Bills for Consumers