Bitcoin miners across the southern United States are preparing to curtail operations as a major winter storm threatens power grids this weekend.
AccuWeather warned that a massive storm could stretch 1,800 miles from west Texas to the mid-Atlantic, affecting more than 60 million people.
Large storms have previously led miners to power down voluntarily to ease grid pressure, including during a major Texas winter storm in 2022.
Bitcoin ESG researcher Daniel Batten said miners are likely to reduce activity again as extreme weather events become more frequent.
“I think that with extreme weather events becoming more common in jurisdictions throughout the world, the need for Bitcoin mining loadbalancing, particularly as more solar and wind go onto grids, is only going to increase,”
Daniel Batten said.
Bitcoin miners can stabilise grids by absorbing surplus power and rapidly shutting down when electricity supply tightens.
A report from the Digital Assets Research Institute said Bitcoin mining has saved Texas about $18 billion by reducing the need for new gas peaker plants.