Only In Crypto: Ted Cruz Cosigns Argument That Bitcoin Miners Are Fixing Texas Electric Grid A lot has happened in the Bitcoin space, from mining crackdowns to new all-time highs to market crashes. Out of all of these have come some very interesting takes on how Bitcoin and crypto, in general, are affecting the day-to-day lives of individuals. One of these has been the energy consumption associated with bitcoin mining. This concern has grown to the point where countries have moved quickly to regulate mining.
One of the most prominent and impactful crackdowns has been the China mining crackdown. Once the mining capital of the world, the region had forced bitcoin miners out of the closest thing to a natural habitat. What followed was the move of miners to countries like the United States.
Texas was one of the states that welcomed these miners with open arms. The state offered incentives to attract these miners by way of favorable mining laws. Another thing is the Texas power grid known as ERCOT has been struggling for a while and Senator Ted Cruz believes that Bitcoin miners will solve this issue.
Texas has been having problems with its power grid, the Electric Reliability Council of Texas, (ERCOT). As it stands, the grid has been experiencing problems as some parts of the state have experienced blackouts. This has been mainly related to the power grid’s inability to maintain an acceptable balance between supply and demand. The problem has arisen with the power grid not having enough demand to balance supply. This is where bitcoin comes in.................
https://bitcoinist.com/only-in-crypto-ted-cruz-cosigns-argument-that-bitcoin-miners-are-fixing-texas-electric-grid/
