Bitcoin (CRYPTO: BTC) mining reportedly helped Texas avoid $18 billion in energy costs by eliminating the need for new gas peaker plants.
What Happened: The findings were made in a Monday report by the Digital Assets Research Institute, which credited the efforts of Electric Reliability Council of Texas CEO Brad Jones in identifying Bitcoin mining as a better alternative to stabilize the Texas electrical grid instead of the costly and polluting gas peaker plants.
Natural gas-fired plants have been traditionally used to stabilize grids during peak demand. However, their popularity has dipped owing to significant carbon footprints, high setup and maintenance costs, and large idle time.
Bitcoin mining, on the other hand, offered a more …
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