Here’s a new tech buzzphrase for you: “grid citizen.” Apparently, if you are a good one, you’ll reduce or even shut down entirely your Bitcoin mining during events that stress the power grid, like a heat wave.
The phrase is currently being used to describe Bitcoin miners in Texas who are turning off their machines this week in response to a request from the state’s power grid operator for businesses and residents to reduce their energy consumption where possible. The state is currently under a heat dome and is expecting a heat wave to send temperatures into the triple digits this week.
The numerous mining rigs in the state that will be powering down would have consumed 1,000 megawatts of electricity, putting significant stress on an already burdened power grid. “They are shutting down for several reasons but primarily because it is the right thing to do to be a good ‘grid citizen,’” Lee Bratcher, president of the Texas Blockchain Council, toldThe Verge. And even though the companies won’t be mining bitcoins, they’ll probably still save money because the state’s electricity prices are expected to rise significantly during the heat wave. So it’s a win-win.
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