128
The winter storm that hit Texas has finally passed on through and the temperatures have returned to the 50's much to my mom's delight. Since the storm that wreaked havoc last February, there has been a huge fight within the state over if what the Republican Government passed and the deals that ERCOT cut with Bitcoin miners were actually going to do anything. Well now the answer is clear and cryptominers everywhere should celebrate.
As I have previously had written about Texas had cut deals with Bitcoin miners to help stabilize the grid however some people were not sold by the idea. What was being done was allowing for ERCOT the grid regulator to have guarantees about the power generation and consumption. For grid regulators that is a very key thing to know to dodge rolling blackouts and not many grid operators had taken the route that Texas had. By giving Bitcoin miners tie-in to the grid what that did was allow power generators to always know what the power draw would be. Whenever the load on the grid would increase too much the idea was for Bitcoin miners to shut down and be paid to shut down so that the power could be sent to other residential and businesses on said grid.
This winter storm that just hit actually led to more power being required than the storm last year and not only did the grid hold up just fine but there was enough power left over to power an ADDITIONAL 3 MILLION HOMES! While this is not all due to the Bitcoin miners the stability that they provided to their different areas of the grid were nonetheless vital in the grid standing up to the needs required.
This success begs for the question to be asked on if with this successful run will other states and grid operators adopt the idea. It might not be perfect and it might not be what everyone wants however the results are hard to argue with. These miners are allowing for renewable power to be developed in areas that otherwise would not be due to lack of demand. By serving as an anchor to these projects they allow for the development to occur and thus bring the power online!
Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Robinhood
If you do not already have a Robinhood account if you sign up and link your bank account we both earn FREE stock! You also will be put on the waitlist for crypto wallets as well! Don't forget Robinhood crypto trading is commission-free! ??
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for FOLD with my link you will get 5,000 sats for free!
Unstoppable Domains
Sign up using my link and get a free $10 credit towards your first $40+ purchase!
Sign up for COINBASE and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 4,000 sats in just a couple of months walking to work! is my link!
