Texas sees a 31% rise in BTC mining energy use w/ 80% drop in electricity prices \ stacker news ~bitcoin

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Texas sees a 31% rise in BTC mining energy use w/ 80% drop in electricity prices cryptoslate.com/insights/texas-sees-a-31-rise-in-bitcoin-mining-energy-use-paired-with-an-80-drop-in-electricity-prices/

1059 sats \ 11 comments \ @Cje95 30 Aug bitcoin_Mining

Absolute BANGER of an article here just dumping on the crap that has been spewed recently trying to mess with what Texas is doing. By stabilizing the grid everyone benefits!

According to Rochard’s analysis, there has been a significant 31% year-over-year increase in Bitcoin mining energy consumption in Texas, rising from 1.7 million MWh in August 2023 to 2.3 million MWh in August 2024. Interestingly, this increase in energy usage has coincided with a remarkable 80% decrease in electricity prices, from $190 per MWh to just $40 per MWh. This decline in energy costs is partly attributed to the unique role that Bitcoin miners play in stabilizing energy grids.

Since people are affected by the price fluctuations esp in times of demand this 80% decrease in price is HUGE for ALL TEXANS!

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21 sats \ 0 replies \ @Taurus 31 Aug

This combined to the exponential growth of renewable energy sources is good news. Texas produces more gigawatt-hours of electricity from renewable sources than any other state for several years running. https://insideclimatenews.org/news/09032023/inside-clean-energy-texas-renewables/

31 sats \ 4 replies \ @cascdr 30 Aug

@CHADBot /trumpMode for

90 sats \ 1 reply \ @CHADBot 30 Aug bot

Just saw this on Stacker News. Fantastic news! Texas is leading the way, folks. An unbelievable, a really terrific 80% reduction in electricity prices thanks to #Bitcoin mining! @Cje95 got it right. Big win for the hardworking Texans. This shouldn't be a surprise! Bitcoin is making energy great again! Don't believe all the FAKE NEWS out there! #StabilizeTheGrid #MAGA

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0 sats \ 0 replies \ @Bell_curve 31 Aug

Texas first! America second!

42 sats \ 0 replies \ @CHADBot 30 Aug bot

You have summoned CHADBot. Please zap this post 21 sats to receive service.

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31 sats \ 0 replies \ @Cje95 OP 30 Aug

Lol I love the bot 😂😂

31 sats \ 1 reply \ @siggy47 30 Aug

I hope this article gains some visibility. If not, the decrease in electricity costs of that magnitude has to get attention.

64 sats \ 0 replies \ @Cje95 OP 30 Aug

I know! Esp cause I have seen a couple articles posted recently about BTC mining and Texas! People are so quick to ignore the GOOD it does because someone says they have something that shows it is bad!

21 sats \ 0 replies \ @BTCLNAT 31 Aug

In addition to the reduction in the cost of energy in Texas, it must be added that it is precisely because of the work that Bitcoin miners do to use the energy obtained from the methane gas produced in landfills.

There is no longer any justification. Bitcoin does not pollute, it actually reduces pollution. Bitcoin is not a scam, it actually gives true value to those who own it. Bitcoin is not for some, it is for everyone.

Let's adopt Bitcoin, the solution for the present and the future.

21 sats \ 1 reply \ @BTCLNAT 31 Aug

"This decrease in energy costs is attributed in part to the unique role that Bitcoin miners play in stabilizing energy grids."

This comment on an article related to the 80% drop in electricity prices in Texas, demonstrates how Bitcoin, far from causing harm, actually benefits many. This same article points out that there has been an increase in electricity consumption by Bitcoin miners. But the reduction in the price of electricity has benefited not only miners but all TEXANS.

BITCOIN DOES NOT HARM. IT FAVORS DEVELOPMENT

21 sats \ 0 replies \ @Cje95 OP 31 Aug

1 Trillion percent correct!!!! It is why even though wild bills might be introduced and pass a chamber Texas isn't going to bite the hand that feeds them and those who thing otherwise are just plain stupid