Texas Republicans are welcoming the expansion of the blockchain technology industry in the state. Critics are raising concerns over the potential impact of cryptocurrency mining on Texas' energy grid.
, according to the Cambridge Bitcoin Electricity Consumption Index.
Industry advocates describe a symbiotic relationship between bitcoin miners and the Electric Reliability Council of Texas, the state’s grid operator. They suggest the proliferation of blockchain technology would help stabilize a Texas power grid that has increasingly come under fire for failures during a storm thatThe increased demand brought by mining could incentivize new sources of power to come online, they say.
The industry’s extensive energy usage also brings environmental concerns. The advocacy group Environment Texas has opposed politicians’ efforts to promote the industry, both for power capacity concerns and because of the emissions created by producing power to sustain the miners. Metzger also expressed concerns around electronic waste for an industry that relies so heavily on computing equipment.
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