• Riot Blockchain’s CEO (NASDAQ:) stated that their Bitcoin mining facility could stabilize Texas’s power grid.
• ERCOT has to keep a balance between supply, demand in order to function efficiently.
• Riot Blockchain’s Whinstone facility is the largest mining facility in North America.

Riot Blockchain’s CEO Jason Les said their Bitcoin mining facility could stabilize Texas’ power grid. In an interview on June 3, 20,22, he stated this to Fox journalists.

Les said:

Riot has made significant investments and committed to this power grid, which has resulted in generation that stabilizes it. With the energy that we obtained, however, we also have the unique ability to be flexible enough to return that power to grid whenever it is needed.

Electric Reliability Council of Texas or Texas’ power grid struggles with intermittent service and volatile energy prices. ERCOT must maintain an optimal balance between demand and supply in order to function efficiently. According to Consumer News and Business Channel, having too many buyers and too little power poses a serious problem to the power grid.

Riot Blockchain’s CEO stated that their bitcoin mining facilities can be turned on when they have excess capacity, and off when it is under-used. Les explained that bitcoin mining is the only one with this capability, and unlike other energy loads that cannot be shut off at all times during the day.

Lee Bratcher (President of Texas Blockchain Council) said the following:

Not only does it bring jobs and revenue, but the Bitcoin mining industry can also increase grid resilience as it acts as a manageable load. Bitcoin miners are able to turn off in a matter of seconds, making them an ideal resource for grid frequency balance and demand response.

Riot Blockchain’s Whinstone facility is the largest Bitcoin mining facility in North America. According to its website, the facility has a total power capability of 750 megawatts.

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