New Texas PUC Rule to Register Crypto Miners

by | Dec 10, 2024 | Industry News, Living in Texas

Why Will Texas Register Crypto Miners?

Texas plans to register crypto miners to better track and manage large energy using companies. Find out how crypto mines could affect energy rates.
The Texas PUC wants operating crypto miners to register with them in February. Learn why the growing number of crypto mines could affect Texas electricity rates.

As the crypto mining industry booms, the Texas Public Utility Commission (PUC) wants to keep tabs on major players. The state’s energy agency has adopted a new rule requiring companies to register crypto miners. This new rule aims to protect the Texas electricity grid and ensure reliable power for homes and businesses. It’s essential to understand how this change affects power rates and how the grid works.

New Rule to Register Crypto Miners 

Crypto miners use vast amounts of power because they run servers 24 hours per day. Machines run hot, so they need more cooling than you’d think. And they’re always digging for virtual gold. So, they have high power usage almost all the time. 

Facilities that use more than 75 MW of power must now register with the PUC. As of July, miners on the Texas grid used 2,600 MW, equal to the electric needs of Austin. This amount could double as new crypto mines come online. So, keeping an eye on large miners is a good idea. As a state, we need to know where large volumes of power can go. ERCOT can divert Texas power to the highest priority places when supply is scarce.  

Today’s miners must register by February 1, 2025, while new facilities must register within one day of starting service. Talk about a short turnaround! It’s a good thing they have a long ramp-up time before earning their first virtual dollar. 

Through registering, the PUC can monitor miners’ energy use and plan for future demand. Registered miners must report their peak energy needs and flexibility to reduce usage when the grid is strained. This clarity will help ERCOT keep its grid stable. After all, ERCOT manages the day-to-day, hour-to-hour, and minute-to-minute grid operations. ERCOT calls the shots when power outages threaten the state, and they do all they can to keep the lights on. In fact, they’ll help crypto mines power down so homes can stay on. 

How Crypto Mining Affects Rates

Crypto mining increases demand on the power grid, which can drive up electric prices. When the grid is strained, power becomes more costly. Texans have already seen rising rates due to surging demand from industries like mining, data centers, and hydrogen production. And all this impacts your electric bill

The new rule to register crypto miners helps Texas better plan for growing demand. By tracking how much power miners eat up, ERCOT can better balance supply and demand. This forward thinking reduces the risk of price spikes, providing stability in the power market for everyone. 

What It Means for Texas Customers

For Texans, this rule provides a safeguard against unreliable electricity and skyrocketing rates. The state’s power grid faces great pressure as industries like crypto mining grow. Without proper oversight, blackouts and high prices are possible.

If you’re shopping for a power plan, consider locking in a rate now. Find your new power plan at the best place to shop for electric rates: http://www.texaselectricityratings.com/electric-rates. You’ll be happy you did! 

Our Facebook Page

Recent Posts