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

Effective March 25, 2022, the Electric Reliability Council of Texas (“ERCOT”) began requiring documentation from large electrical loads like cryptocurrency miners before allowing them to connect to the Texas power grid. Through a Market Notice, ERCOT established an interim process requiring transmission service providers (“TSPs”) to submit interconnection studies that meet the requirements of the National Electric Reliability Council’s Reliability Standard FAC-00202 for interconnection of certain large loads. Specifically, TSPs will be required to submit the studies for interconnection of the following types of loads:

  • New loads not co-located with a Resource with total demand within the next two years of 75 MW or greater;
  • Existing loads not co-located with a Resource increasing total demand by 75 MW or greater within the next two years;
  • New loads co-located with a Resource with total demand within the next two years of 20 MW or greater; or
  • Existing loads co-located with a Resource increasing total demand by 20 MW or greater within the next two years.


Continue Reading ERCOT Now Requires Cryptocurrency Miners to Provide Information on Their Impact to the Texas Power Grid