Crypto mining in Texas face electricity cutoffs
The governor of Texas Greg Abbot has announced an important notion to the crypto miners of Texas. February of last year the state’s power grid malfunctioned due to bad weather and left a hundred citizens dead. Mr. Abbot warned the crypto mining community to be cautious that in the case the power grids appear to fail they shut down the system so the incident doesn’t repeat itself.
The winter storm known as Uri of last February left close to 200 dead due to cold weather. Shutting down the state’s crypto mining can help store some energy for homes and businesses, something they were lacking last year.
The governor said, “help me get through the winter”. Two bitcoin miners who had attended the meeting said they would indeed shut down crypto mining if there are signs of straining in the state’s power grid.
Mr. Abbot, who is running for re-election this year, has two tough challenges. One is with a primary member of his own Republican party in March, and the other in November with Democrat Beto O’Rourke.
Challenges for Texas Electricity
The Texas electricity system’s weakness is likely to come up in both of these upcoming challenges. The recent polls found that around 60% of Texans disapprove of how the state’s officials managed the grid. After the snowstorm last February left nearly 5 million residents of the Lone Star state with no power for several days – Texas management of the power grid has been under heavy investigation.
On a different note, several countries across the world have either banned or limited crypto, China and Kazakhstan included. Meanwhile, Texas has been aggressive in turning its state into a center for crypto. They have many crypto mining companies set up throughout the state. This was noted by the Texas Blockchain Council.
Some top Republicans, like Mr. Abbot and Senator Ted Cruz, believe that making Texas a crypto mining hub will help with the state’s energy infrastructure. It will create demand for corporations to come in and build new power plants. It was reported that crypto mining power consumption in Texas can increase by five percent by 2023.