Bitcoin Mining Isn’t To Blame For Increasing Texas Power Demand
Everything is bigger in Texas, including the Bitcoin mining industry . The Lone Star State has grown to become one of the largest Bitcoin mining hubs in the world.
Miners started flocking to Texas following China’s mining exodus . A number of Bitcoin miners set up shop in Texas due to the region’s abundance of wind and solar power, along with its vast amounts of land.
A recent blog post from the Texas Blockchain Council stated that Texas was responsible for over 30% of the hashrate in the U.S. The post pointed out that Texas is home to 5 of the largest ten Bitcoin mines in America.
Additionally, Texas Blockchain Council noted that the U.S. is currently the world leader in terms of its share of the collective hashrate of the Bitcoin network . This means that Texas has essentially become the capital of Bitcoin mining globally.
While it’s notable that Texas has become a Bitcoin mining hub, Texas media outlets are blaming miners for increasing power demand.
An article published last week in The Austin Chronicle explained that current Texas power demand hovers around 85 gigawatts (GW). The article stated that this number is expected to double by 2030, reaching 150 GW.
According to the article, Bitcoin mining is to blame for the rising power demand.
“More than 50% of that new demand is expected to come from the increasing number of crypto mining operations and data centers in the Permian Basin,” the reporter wrote.
Another opinion article featured in The Houston Chronicle detailed why Bitcoin mining could crash the Texas power grid.
Although Bitcoin mining is a controversial topic in Texas, industry experts believe that mining isn’t to blame for increasing power demand.
Lee Bratcher, Founder and President of the
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