Bitcoin miner Riot Platforms made headlines over the summer for making millions by selling pre-purchased power back to the grid. The news highlighted how the grid can benefit businesses more than consumers.
But Mandy DeRoche, deputy managing attorney in the clean energy program at Earthjustice, a nonprofit environmental law group, said crypto mining businesses shouldn’t be praised for reducing power on the grid when they are using so much to begin with.
Ed Hirs, a University of Houston lecturer and energy market expert, said he’s worried that more Bitcoin mines coming to the state will mean higher electricity prices for Texans.
That month, a Bitcoin mine that Riot Platforms acquired, Whinstone, received a $125 million windfall by selling power back to the grid, according to an investigation by the Tech Transparency Project.
“Essentially every miner is running the exact same algorithm, and it really is just a matter of luck,” said Samantha Robertson, a member of the corporate strategy team for Bitdeer, another Bitcoin company with an operation in Rockdale.
ERCOT is also running pilot projects in the Dallas and Houston areas that let people with Tesla Powerwall batteries sell their extra electricity onto the state grid when it’s needed.
Critics such as energy consultant Doug Lewin say the Public Utility Commission needs to get to a point where it can expand the pilot projects and make the concept a permanent part of how the grid works.
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But Mandy DeRoche, deputy managing attorney in the clean energy program at Earthjustice, a nonprofit environmental law group, said crypto mining businesses shouldn’t be praised for reducing power on the grid when they are using so much to begin with.
Ed Hirs, a University of Houston lecturer and energy market expert, said he’s worried that more Bitcoin mines coming to the state will mean higher electricity prices for Texans.
That month, a Bitcoin mine that Riot Platforms acquired, Whinstone, received a $125 million windfall by selling power back to the grid, according to an investigation by the Tech Transparency Project.
“Essentially every miner is running the exact same algorithm, and it really is just a matter of luck,” said Samantha Robertson, a member of the corporate strategy team for Bitdeer, another Bitcoin company with an operation in Rockdale.
ERCOT is also running pilot projects in the Dallas and Houston areas that let people with Tesla Powerwall batteries sell their extra electricity onto the state grid when it’s needed.
Critics such as energy consultant Doug Lewin say the Public Utility Commission needs to get to a point where it can expand the pilot projects and make the concept a permanent part of how the grid works.
The original article contains 2,181 words, the summary contains 205 words. Saved 91%. I’m a bot and I’m open source!