Texas is a crypto-friendly state and a location with some of the cheapest energy sources in the world. Those are some of the reasons why a tech company called Lancium is willing to spend $150 million to build solar and wind-powered Bitcoin mining firms.
Once completed, it is predicted that the farms will have an energy capacity of over 2.000 megawatts. Unfortunately, solar and wind-powered energy production isn’t always the most reliable. If there is no sun or wind, the mining gear will lack renewable energy to distribute. Luckily for Lancium, cities in West Texas feature some of the USA’s highest recorded wind speeds, and the sun is never lacking.
During windy and sunny days, West Texas can produce more electricity than meets the demand of the region. That’s where Lancium and its mining firms enter the picture. The mining rigs will be powered on to generate new Bitcoin when the conditions allow it. But when the weather conditions don’t, the miners will be turned off.
You might wonder, why would Bitcoin miners favor a location where their gear won’t be mining coins all around the clock? It’s simple. Electrical grid operators pay the miners to turn off their hardware in times of greater electricity demand. They earn slightly more money when their rigs aren’t running than when they are. Specialized software is used to monitor the energy requirements for domestic and industrial use. This equipment can turn off all or just some miners to meet the required demand.