Texas wants to use bitcoin miners for grid stability as power demand soars
The CEO of ERCOT advocated for increasing Bitcoin miners' participation as Controllable Load Resources to enhance stability of Texas power grid.
Track Bitcoin mining news, hash rate, public miners, energy policy, hardware trends, and network economics.
Stronghold Digital Mining reported a 47.1% decline in monthly Bitcoin mining output in May, attributing it to the post-halving.
Bitcoin's self-regulating mechanism ensures block mining stability through hash rate adjustments.
Rejected buyout highlights Core Scientific's confidence in AI-driven future post-bankruptcy.
The company made the complaint in a on June 5 letter addressed to Navarro County Texas Judge H.M. Davenport Jr. and four commissioners.
The miners highlighted that their hashrate has continued to rise despite the falling BTC production.
Expected to generate significant revenue, the agreement diversifies Core Scientific's portfolio into the rapidly growing AI data center space.