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Bitcoin Miners helping to reduce electricity rates for residential customerstheminermag.com/news/2025-01-29/kentucky-paducah-power-bitcoin/
243 sats \ 2 comments \ @Coinsreporter 29 Jan bitcoin_Mining
The utility company (Paducah Power, Kentucky) highlighted that Bitcoin miners are “good customers” because they operate at peak load consistently while also offering flexibility to shut down during extreme weather conditions, helping balance electricity demand for residents. The financial audit revealed that the average residential electricity rate declined by 3.18% over three years, from $0.157 per kilowatt-hour (kWh) in January 2022 to $0.152 per kWh in 2025.
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20 sats \ 1 reply \ @k00b 29 Jan
Paducah Power, a public utility provider in Kentucky, reported that three Bitcoin mining companies are now purchasing nearly 20% of its electricity output—a figure projected to increase to 33% in 2025.
I find the numbers pretty remarkable. They are consuming very meaningful amounts of power if Paducah Power serves the entire state (which is implied but unclear to me).
In 2024, the three Bitcoin mining companies accounted for 4% of Paducah Power’s total electricity sales. However, Chief Financial Officer Doug Handley explained that these companies have been ramping up operations, now consuming nearly 20% of the city’s energy output in early 2025.
They 5x'd in one year.
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21 sats \ 0 replies \ @Coinsreporter OP 29 Jan
I did a bit more research and found that Paducah is a major supplier but there are many others in Kentucky.
The numbers are really promising, more important, imo, is that it's a myth breaker.
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