Texas鈥� utility regulator on Thursday adopted a rule requiring cryptocurrency mining facilities connected to the state鈥檚 main electric grid to register with the state鈥檚 grid operator.
The rule, which was mandated by lawmakers in a , requires crypto mining facilities that consume more than 75 megawatts of power to tell the Public Utility Commission and the Electric Reliability Council of Texas, which oversees the state鈥檚 power grid, the facility鈥檚 location, ownership and electricity demand.
Crypto mining, which consumes vast amounts of power to run and cool its computers, has been growing in Texas, contributing to a across the state. The rule was designed to help the state see how much electricity crypto facilities will consume and protect the grid鈥檚 reliability.
鈥淭his is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape,鈥� PUC Chairman Thomas Gleeson said in a statement. 鈥淢ost importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans.鈥�
Existing facilities must register by Feb. 1 and renew their registration annually. Companies must also provide each facility鈥檚 anticipated peak load for the next five years, in addition to the actual power the facility consumed in the prior year.
Failure to register could result in up to a $25,000 penalty per violation per day.
Crypto facilities are considered 鈥渓arge flexible loads鈥� by state regulators, meaning they can adjust their power consumption quickly 鈥� such as powering off their computers .
As of July, ERCOT estimated that crypto facilities on the main grid could use of power 鈥� about the same amount of power used by the city of Austin. The state recently approved crypto mining facilities that are expected to use another 2,600 MW of electricity, and more are expected to locate in Texas soon.
That growth, in addition to increasing interest in Texas from data centers, hydrogen production facilities and oil and gas companies that are electrifying their drilling operations largely concentrated in the Permian Basin, has driven ERCOT鈥檚 prediction that electricity demand in Texas could within six years.
Demand on the power grid hit a record of 85 gigawatts last year, which was the in the state. ERCOT experts now say demand could reach around 150 gigawatts by 2030.
This article originally appeared in at .
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