Stock Groups

Large-scale Crypto Miners in Texas May Struggle With New Policies -Breaking

by Mike Robinson

[ad_1]

© Reuters. Texas Cryptominers on Large Scale May Have a Hard Time with New Policies
  • Crypto miners in Texas are facing new challenges with the “approval to energize” studies.
  • The announcement of the first notice came on March 25,
  • To iron out the details, Texas’ Electric Reliability Council will meet next Wednesday.

Crypto miners in Texas are now facing a new challenge after the government is discussing the decision of requesting “approval to energize” studies from high-scale miners, Bloomberg reported.

Bloomberg shared the news on Twitter (NYSE:), with the caption, “Power-hungry crypto miners will face new hurdles in connecting to Texas electrical networks, thanks to new rules from the state’s grid operator.”

The Electric Reliability Council of Texas Inc. has begun asking utilities for studies that present facts on the impacts of large energy users and miners. These studies will be a factor in determining whether they get the “approval to energize” or not.

ERCOT members are expected to vote on Wednesday, March 25, as announced in a notice. They will also vote to come to an agreement.

It was in response to high electricity demand from cryptocurrency miners. The measures also serve to repeal the old policy ERCOT employed in the past.

Lee Bratcher from the Texas Blockchain Council commented about these developments.

Now, we are in dialogue with Ercot to make sure that there is no delay for miners.

The new measures will affect large-scale miners as these are huge energy consumers. However, other big energy consumers like factories and export terminals are also affected but they will not be the main target.

Continue reading on CoinQuora

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]