- Texas-based cryptocurrency miners are turning their machines off to conserve power
- The state is gripped by a heatwave, leading to the demand for power potentially overloading the grid
- Businesses in the state have been asked to reduce power usage where possible
A heatwave in Texas that has seen temperatures hit triple digits has left crypto miners turning off their machines in response to a request from the state. Just 18 months ago the state saw a power crisis due to a series of winter storms that triggered the worst energy infrastructure failure in its history, and now it is the turn of the summer heat to play havoc. The Electric Reliability Council of Texas (ERCOT) called on Texas residents and businesses to conserve electricity on the grid, and crypto miners have responded by powering down their machines en masse.
Record High Demand Leads to Energy Reduction Call
Texas has become hugely popular for crypto mining firms in recent years thanks to its abundance of natural energy supplies like sun and wind. But this comes at a price, as many miners found out last winter, and newer miners are finding out this summer.
ERCOT forecast “record high electric demand” yesterday, leading to a conservation alert being sent to all companies in the affected regions to reduce their electricity usage to avoid overwhelming the grid. ERCOT says that demand for electricity in Texas could surpass the available supply if measures aren’t taken to reduce it, and crypto miners have the ability to switch off individual machines in order to help the cause.
Heatwave Should Pass This Week
This they have, with Riot Blockchain and Argo Blockchain both saying that they had curtailed their energy use while the heatwave continues. Another was Core Scientific, which tweeted about its energy reduction yesterday:
To provide relief to people in Texas, ALL of Core Scientific ASIC servers located in the state have been powered down. Core Scientific’s ASIC servers in Texas comprise less than 15% of our footprint, and will remain powered down until further notice.
— Core Scientific (@Core_Scientific) July 11, 2022
It is hoped that the heatwave will pass by Wednesday or Thursday, when miners will be able to resume activities at full power.