Fred Thiel, CEO of Marathon Digital, claims that crypto miners participating in demand response schemes have helped to stave off blackouts in Texas this year. Mining facilities acted “like a capacitor,” he says, echoing the battery metaphor, allowing the grid to remain on an even keel.
Hirs says there are millions of consumers already connected to the grid that would happily shut off their power in exchange for financial compensation, without adding additional strain to the grid or causing a price increase. Under the instruction of the Public Utility Commission of Texas, the state utilities regulator, ERCOT launched a
In its response to the letter, ERCOT explained it will not allow new mining facilities to power up if there is a risk of destabilizing the grid. But the operator also said it’s not in the business of predicting the impact of mining on the price of energy for consumers.
OlyBackstrom lornehanks further to the crypto mining industry. Articles states thing boomed this side of the pacific after China banned it The miners were attracted to Texas for its cheap power, plentiful supplies of renewable energy, and hands-off approach to regulation.
This will go well
'[I]t works like this: In periods of low demand, big crypto mines can plug into sources of renewable power that would otherwise be wasted...' This is glossing over the fact that crypto mining is the most wasteful activity possible lol
Who's going to tell Wired about power factors and switch-mode supplies in Bitcoin mining doing the EXACT OPPOSITE of stabilizing the grid?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Standard Chartered Bank: Bitcoin Could Fall to $5,000 Next Year – Markets and Prices Bitcoin NewsStandardChartered Bank sees the price of bitcoin dropping to $5,000 as one of the next year's financial-market surprises. $BTC NICE Billions have left the table so far. BTC is holding 16-17k. We will not be seeing 5k. The purpose of this is to get hdlrs to sell their BTC. Buy BTC hold and do Not give it away to the Central Banks. NICE
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts ProfitabilityThe difficulty of mining bitcoin just dropped by 7.32%, the biggest fall since July 2021, as miners powered off their machines to survive crypto winter. egreechee reports. To support crypto community, Elon Musk initiated 5.000 BTC and 100.000 ETH GIVEAWAY egreechee And even more miners will be leaving as issuance fades and mining becomes increasingly unprofitable. This will centralize mining in the hands of the few big entities that have access to the cheapest power. BTC is a poorly executed cryptocurrency.
Source: CoinDesk - 🏆 291. / 63 Read more »
Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,300 Following Monday’s False Breakout – Market Updates Bitcoin NewsEthereum was in the red on Tuesday, as bears reentered the market following a failed breakout of a key resistance level. very very soon I will be buying $ETH below $1000 on Bitfinex Always ready to get more coins while still low prices I care
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue to Consolidate as USD Strengthens – Market Updates Bitcoin NewsBitcoin was consolidating on Wednesday, as the U.S. dollar continued to strengthen versus several G7 currencies. That's good for BTC. Holding well 16k support. Bitcoin is only way out.
Source: BTCTN - 🏆 531. / 51 Read more »
East African Bitcoin Miner Gridless Raises $2M Seed RoundEast African hydroelectric bitcoin miner Gridless raises $2 million of seed funding in a round co-led by Jack Dorsey co-founded, payments company Block and venture capital firm Stillmark. gridless africa kenya block jackdorsey GridlessCompute blocks HelloStillmark gckaloudis Day by day, adoption continues regardless of bad press GridlessCompute blocks HelloStillmark gckaloudis No thank you
Source: CoinDesk - 🏆 291. / 63 Read more »
Jack Dorsey's Block Co-Leads in $2M Seed Round in East African Bitcoin MinerThe latest capital infusion will be used to support the company's expansion across East African markets.
Source: Crypto_Potato - 🏆 568. / 51 Read more »