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Author: Admin | 2025-04-28
When the prices exceeded $200 MWh. However, this activity was less pronounced than in previous winter events or summer heat waves because generation reserves were more abundant across the grid. Some bitcoin miners likely curtailed for longer periods as a gesture of good “grid citizenship,” and to show their commitment to a stable grid, but that is hardly quantifiable. All of this evidence indicates that the difficulty drop last week necessitates a more nuanced explanation. Much of it was a result of curtailment in Texas, but after evaluating ERCOT pricing data, it leads me to believe that a material portion of that curtailment came from other ISOs in North America as well. In short, everyone who has an opinion about bitcoin mining curtailment would do well to watch ERCOT settlement and LMP prices. The data and the economics should form the backbone of all future analyses. This is a guest post by Lee Bratcher. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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