• In December 2022, Bitcoin miners in Texas returned up to 1,500 megawatts of energy to the local grid.
• This amount of energy was enough to power over 1.5 million small homes or 300 large hospitals.
• The miners were praised for their flexibility and for providing ancillary services to the state.
In December 2022, Bitcoin miners in Texas made a remarkable contribution to the local grid. During a severe winter storm, the miners returned up to 1,500 megawatts of energy, which was enough to power over 1.5 million small homes or 300 large hospitals. This was made possible due to the flexibility of mining operations and the ancillary services provided by the state authorities.
Lee Bratcher, the president of the Texas Blockchain Council, commented on the news and stated that miners returned up to 1,500 megawatts to the Texas grid. This was met with praise from the Bitcoin advocacy group, who noted that such a large amount of energy could be used to heat so many homes and keep so many hospitals running.
The hash rate of the global Bitcoin mining network dropped by 30% on December 24-25, 2022, which indicates that the miners have been able to accumulate such a large amount of energy over a long period of time. This has also highlighted the miners‘ flexibility and ability to provide ancillary services to the state, which has encouraged customers to reduce their consumption during peak demand in order to stabilize the grid.
Overall, the return of 1,500 megawatts of energy by the miners has been a great success for the state of Texas and a positive example of how Bitcoin miners can be beneficial to the local grid. The miners have been praised for their flexibility and for providing ancillary services to the state, which has allowed for the return of such a large amount of energy.