Texas is Planning on Becoming a Bitcoin Capital, Facing Vulnerable Power Grid
Over the next two years, demand is expected to rise by as much as 5,000 megawatts as a result of an army of bitcoin miners migrating to the state for its cheap electricity and tax regulation. The crypto exodus to Texas has been growing for months, but the enormous amount of electricity those miners will require — two times more than the capital city's population of over 1 million people consumed in the whole year of 2020 — is just now becoming obvious.
The growth comes at a time when the electrical grid is already being strained by a growing population and a strong economy. The state's system has already shown to be dangerously unstable, even before the increased demand comes online. In February, catastrophic blackouts left millions of people in the dark for days, resulting in at least 210 deaths.
