There’s A New Rule For Mining Crypto In The State Of Texas

Crypto mining has grown in size over time in the state of Texas.

There's many reason for this, as revealed by Opportune. Factors such as Texas supporting the idea, as well as the state's power market being deregulated resulting in power being available at a lower price. So, many have appeared in the state looking to strike it rich with crypto.

But due to the amount of people coming to the Lone Star State to try their luck, the Texas Power Grid is suffering from the growth in usage. Per the Texas Tribune, 2,600 megawatts of power is used to mine Bitcoin. This is troubling, as the previously mentioned wattage matches the amount used by the capital of Texas, Austin.

To help in potentially reduce the problems that grid of the state faces, a new rule has been enacted. But what exactly is the regulation?

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What Is The New Regulation For Crypto Mining In The State Of Texas?

Per Click2Houston, facilities that mine crypto using over 75 megawatts must do one thing. The facility must alert The Electric Reliability Council of Texas and Public Utility Commission these three things: electricity demand, facility’s location, and ownership. Spaces already built for the mining have a deadline of February 1st, 2025 to submit their items.

Following the reporting, the stations also have to renew every year. Thomas Gleeson, the Public Utility Commission Chairman, stated of the rule:

“This is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape...Most importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans.”

If more information becomes available, we will report it here.