Texan Bitcoin mining operations may demand energy 5 times by 2023

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Because of the increasing Bitcoin mining operations in Texas, there are chances that Bitcoin mining firms will put 5 times more load on the electricity grids of US states. 

After the ban of crypto mining operations and crypto services by China, many countries grabbed the opportunity to lead the world in terms of Bitcoin mining operations. These countries are Sweden, Norway, Kazakhstan, Iran, Russia, and many American states. But adoption of this crypto mining industry is ending up with the huge load of the electric grid of the country. 

Right now there are many crypto mining firms running their operations and consuming electricity from 500 to 1,000 MW per year. 

According to reports, the Electric Reliability Council of Texas (ERCOT) expects that the electricity demand will surge by around 5 times more than the current demand in the next year. This estimation is only made for the Bitcoin mining firms. And besides all these, ERCOT is working on the generation of more electricity to fulfil the demand. Reportedly, they are planning for the 3,000 to 5,000 MW energy generation. 

Recently, Lone star states announced their plan to become one of the home of the Bitcoin mining operations with the contribution of 20% in the Bitcoin network hash rate. 

Reports claimed that Texas was one of the best choices for the crypto mining firms, after the ban of Bitcoin (crypto) mining by the Chinese authorities from the nation. 

Here one thing is noticeable significantly that, Chinese authorities claimed that the ban of Bitcoin mining operations was because of the high electricity consumption by the mining firms. Hower reports claimed that China has abundant sources of energy that allow Chinese citizens to consume cheap electricity. 

So here we may expect that US authorities may take further action on the crypto mining industries to slow down the load on the electricity grid. 

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