Quick Take
- Due to high temperatures in Texas this week, energy demand set a new record high for the month of June.
- For some Bitcoin mining companies, this means more off time as the state’s grid operator signals peak times prices go up.
High temperatures in Texas this week have led to record-breaking power use levels for the month of June, presenting a test for state’s power grid. And the heatwave has had implications for some of Texas’s bitcoin mining operations.
Energy demand hit a peak of 72,386 megawatts on Monday, setting a record for June — only to be surpassed the following day, when demand hit 72,785 megawatts, according to data from the Electric Reliability Council of Texas (ERCOT). The all-time record was 70,257 MW on June 23, 2021.
