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The sole reason that ERCOT and Texas Republicans are pushing crypto mining is because it will drive up power rates across the state.
by asciimov 5y ago
The sole reason that ERCOT and Texas Republicans are pushing crypto mining is because it will drive up power rates across the state.
- shagmin 5y agoThat may be part of it. There's also this trend in TX to find alternative means to raising taxes, often in the form egregious speeding tickets, but that's harder to scale up to larger municipalities.
- deleted 5y ago[deleted]
- gruez 5y agoWhy would "ERCOT and Texas Republicans " want this?
- asciimov 5y agoAs part of their efforts to "stabilize" the grid. ERCOT et al. want to get rid of the night time negative rates that occur when wind power generates excess power over night. Negative power rates end up costing the middlemen money. By offering rate locks for the crypto miners, they are hoping enough of the miners build facilities in Texas that they can soak up all the excess, causing the rates to never run negative. Higher rates fill the pockets of every middleman in the state, and those people line the pockets of the politicians, while costing everybody else.