Texas' Bitcoin Mines Profit from Power Grid Flexibility While Residents Lack Incentives
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Texas' electricity market allows large power users like Bitcoin mines to profit by reducing energy use when demanded or selling excess power back to the grid at high prices.
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Critics argue crypto mining strains the grid then gets rewarded, while residents conserve with no benefit. Advocates say mines provide grid flexibility.
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Mines can quickly reduce power, helping grid reliability. But some see their high usage as problematic to begin with.
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Texas has pilot "demand response" programs paying homes and EVs to reduce power use, but benefits are currently tiny.
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Experts say expanded residential demand response could significantly cut peak energy needs - if regulations enable it.