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Thursday, January 26, 2023

Bitcoin Miners Are Looking Towards New Software That Would Balance The Entire Grid Of Texas

While the topic of Bitcoin mining remains pretty controversial all over the market, Bitcoin miners have started taking recourse to software that could potentially balance the entire grid of the network.

This is currently being demonstrated in the American state of Texas, with the miners being able to participate in several demand response programs, which aim at incentivizing miners to keep turning off their operations during peak demand.

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A spokesperson from the Electric Reliability Council of Texas– the main organization that operates upon the electrical grid of the state- informed Cointelegraph that the crypto loads would be having severe impacts on the grid just like any other load. Yet, they also noted that the miners of cryptocurrency could potentially stabilize the entire grid by completely shutting down their demand for electricity that could be required in real-time. 

Bitcoin Miners Are Getting Help From ERCOT

On the 25th of March, ERCOT created an interim process that would ensure that new large loads, such as Bitcoin miners, were a part of the ETCOT grid. Although evaluations for such large load interconnections are definitely not a new process, ERCOT explained that the timeline that most miners work under requires a new process to ensure that the existing standards for the interconnection of new large loads are being satiated.

The Technical Advisory Committee of ERCOT went on to approve the creation of a Large Flexible Load Task Force on the 30th of March that would be aiding in the development of a long process that could be a substitute for the current interim process. 

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While it is commendable that ERCOT is actually working towards helping Bitcoin miners connect to the grid in the state, several network providers have also started working with these miners to make sure that they have the correct set of tools.

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