According to Cointelegraph, the North American Electric Reliability Corporation (NERC) report pointed out that cryptocurrency mining and artificial intelligence operations have driven electricity demand to new highs in North America, especially in connecting large data centers and facilities to the power grid. This demand growth will bring challenges to power forecasting and reliability. Since the use of electricity for crypto mining fluctuates with market prices, it increases the complexity of power grid management.
NERC’s long-term reliability assessment shows that in Texas in particular, summer peak demand is expected to increase 4.6% annually by 2029, four times the previous forecast. As cryptocurrencies and artificial intelligence become mainstream, their operation poses challenges to the stability and reliability of the grid, especially during peak periods or when operational failures occur.
To cope with the pressure on the power grid, NERC recommends measures such as improved demand forecasting, advanced transmission planning, and expanded demand side management (DSM) programs. Texas has implemented energy response and demand response programs and introduced legislation to improve distributed energy resources (DERs) tracking. At the same time, some mining companies such as MARA are turning to renewable energy, such as acquiring wind farms in Hansford County, Texas.