Texas is rapidly fulfilling its promise to become the crypto mining center of the universe, but an antiquated electricity grid that collapsed during a mid-winter freeze last year soon may force the state to make hard choices about who will foot the bill for an expansion of the transmission system.
According to Texas grid operator ERCOT, cryptocurrency miners in Texas will be using an estimated 6 gigawatts of electricity by 2023—the equivalent of what it takes to power every home in the state's largest city, Houston.
The Lone Star State has been greenlighting everything from micro-mining entrepreneurs operating a handful of servers to a 265-acre hyperscale data center complex under construction near Dallas that is expected to consume nearly a gigawatt of electricity at full capacity.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
