On June 6, 2022, United States Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) released the first major bipartisan bill intended to regulate digital assets. Interestingly, the bill calls for additional information around the energy use of digital assets. If passed, the bill would require the preparation and submission by the Federal Energy Regulatory Commission (FERC), in consultation with the Commodities Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), of an annual report to be submitted to the Committee on Energy and Natural Resources, the Committee on Environment and Public Works of the Senate and the Committee on Energy and Commerce, and the Committee on Natural Resources of the House of Representatives on the following five aspects of digital asset energy use:
Continue Reading Proposed Legislation Aims to Regulate Digital Assets’ Energy Use

The second meeting of the Electric Reliability Council of Texas’s (ERCOT) Large Flexible Load Task Force (LFLTF) facilitated an opportunity for ERCOT, ERCOT market participants (MPs), and bitcoin miners to get to know one another through educational presentations and dialogue. Over 250 participated in-person and virtually.

ERCOT began the event by providing a detailed overview of its interim interconnection process that it hopes to turn into a long-term and permanent process in the future. This interim process enables large loads like bitcoin mining operations to quickly (within 150 days) interconnect with the ERCOT grid while also maintaining grid reliability and meeting existing interconnection requirements. ERCOT anticipates that as much as 17GW of large flexible loads may seek to interconnect with the ERCOT grid by 2026. The bulk of these interconnection requests are expected to be made in north and west Texas.

Continue Reading ERCOT, Market Participants, and Bitcoin Miners Become Acquainted at Second Task Force Meeting

What if you could substitute a renewable battery powered motor for the internal combustion engine just twelve years after its invention? At minimum, we would not be faced with the challenge of limiting greenhouse gas emissions. For all of the benefits the internal combustion engine has brought humanity, its environmental consequences are not among them.
Continue Reading The Argument for Mining Bitcoin from Clean Energy and Waste Energy Streams