> most publicly regulated utilities make very little on selling electricity, they instead make a guaranteed profit on capital investment. So total kWh sold is l

> most publicly regulated utilities make very little on selling electricity, they instead make a guaranteed profit on capital investment. So total kWh sold is less important overall That's what I thought too. Building new capacity is expensive and time-consuming; utilities would rather run their existing capacity at full blast and reduce demand. Which means these cryto miners haven't financed 2.3% additional generation capacity in any meaningful sense. Unless they have special contracts with utilities to specifically fund new power plants and transmission.