Published on November 28, 2024
By: Karin Interfector
The Public Utility Commission of Texas (PUCT) has rolled out new regulations for miners connected to the ERCOT grid. Under these rules, miners must officially register and provide detailed information about their operations. ERCOT (Electric Reliability Council of Texas) manages most of Texas’s electricity grid, ensuring the smooth coordination of energy generation and consumption across the state. The new guidelines were announced in a press release shared on X.
Under the new rules, miners must disclose the locations of their facilities, as well as their energy consumption. Once a miner connects to the ERCOT grid, they have one business day to register. Failure to do so could result in fines accumulating up to $25,000 per day.
This move comes as Texas strengthens its role as a leading hub for cryptocurrency mining. The Public Utility Commission of Texas (PUCT) argues that the new requirements are necessary to address the rising energy demand from mining operations connected to the region’s power grid.
In October, CriptoNoticias covered Texas mining growth, focusing on Rockdale. Once hit hard by an economic collapse in 2008, the town has seen a revival thanks to bitcoin mining. Mayor Ward Roddam pointed out that since 2020, Whinstone’s entry, a Riot Blockchain subsidiary, has driven job creation and economic growth through the construction of a new mining farm.
PUCT Chairman Thomas Gleeson commented:
“To ensure the ERCOT grid is reliable and meets the electricity needs of all Texans, the PUCT and ERCOT need to know the location and power needs of virtual currency miners. This is another example of the PUCT and ERCOT adapting to support a rapidly changing industrial landscape. Most importantly, we will always take the steps necessary to ensure reliable, affordable power for all Texans”.
Meanwhile, Texas Senator Ted Cruz recently told Fox Business that he plans to make Texas “the oasis of Bitcoin and cryptocurrencies”. He also pointed out that the biggest threat to Bitcoin comes from the federal government since they can’t control it. Cruz reaffirmed his commitment to attracting global entrepreneurs to Texas and creating blockchain-related jobs.
Notably, Satoshi Action Fund (SAF) CEO Dennis Porter proposed creating a strategic Bitcoin reserve in Texas. Porter recently shared that his team had successfully convinced local congressmen to start discussing the idea’s viability. The story was also covered by CriptoNoticias.
Further news:
- Russian Government to Ban Crypto Mining in Some Regions.
- Ant CEO Eric Jing says asset tokenization is essential for economic transformation.
- Bolivian Bank Bisa Launches USDT Custody Service.
- More Than 60 New Bitcoin Addresses Holding 1,000 to 10,000 BTC Emerged in 2024.
- Uruguay Passes New Law to Regulate the Crypto Industry.
- Worldcoin Grows in Mexico While Facing Sanctions in Argentina and Global Scrutiny.
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