Bitcoin miners in the US state of Texas sprang into action during a recent winter storm to help alleviate the state’s energy shortage. The Electric Reliability Council of Texas (ERCOT), which supplies electricity to more than 26 million Texas customers, introduced the Interim Voluntary Load Curtailment program for BTC miners and other large consumers to save energy in times of peak demand.
Bitcoin miners and large consumers return 1,500 MW
During winter storm Elliott, the program successfully reduced the Large Flexible Load (LFL) thanks to BTC miners and other large consumers, feeding up to 1,500 MW of energy back into the Texas grid, according to a recent LFL analysis from ERCOT.
20 of the monitored LFLs experienced some degree of electricity demand restraint, with six of these heavy consumers limiting their load throughout the storm, regardless of energy prices. The remaining 14 LFLs did adjust their demand based on real-time prices.
BTC miners jump in
In the summer of 2022, before the ERCOT program existed, miners benefited significantly from suspending their activities and reducing their energy consumption during peak hours. Last summer, extremely high temperatures were reached, causing people to turn on their air conditioners en masse. As a result, the demand for electricity rose sharply.
The success of the Interim Voluntary Load Curtailment program during the winter storm Elliott and the willingness of BTC miners to help in times of crisis show the potential use cases for mining. Miners could thus contribute to stabilizing the electricity grid.
Earlier bitcoin mining news stated that the American bitcoin miners are expanding considerably. CleanSpark, a major bitcoin miner, bought 20,000 brand new Bitmain Antminer S19j Pro+ for approximately $32.3 million, or €30.2 million. The company has done this a few times before and is therefore committed to expanding its infrastructure in preparation for the future.
