Texas governor could use Bitcoin miners to stabilise electrical grid
Texas governor Greg Abbott is inviting Bitcoin miners to help stabilise the local grid
The Texan power grid has been under strain as it struggles to keep up with consumer demand
Abbott believes the growth of Bitcoin mining could bolster efforts to improve electrical infrastructure
Texas Governor Greg Abbott has suggested that inviting Bitcoin miners to the Lone Star State could improve their strained power grid.
Abbott has said that welcoming Bitcoin miners to Texas could create unprecedented financial incentives. This especially favours Bitcoin miners, as commercial electricity prices in Texas are 30% lower than the national average, thanks to its status as one of the largest wind-power producers in the States, and its access to large amounts of natural gas.
While mainstream media and Bitcoin critics are quick to dismiss BTC mining as environmentally unfriendly, the miners are in favour of Abbott’s sentiment, which asks them to halt operations during times of high demand on the grid.
“It’s really a healthy dynamic that brings tax revenue, brings job creation and also is a grid strengthening mechanism,” said Texas Blockchain Council President Lee Bratcher in an interview with Bloomberg. “Governor Abbott’s been very supportive.”
So far there are 27 mining operations in the state, with more on the way like Digital Currency Group-backed Foundry.