Gwyn Lauber, Vice President of Corporate Affairs at Canaan, explains why ERCOT changed parts of its process around Bitcoin mining and large power projects in Texas. The problem wasn’t simply miners using too much power. According to Lauber, speculators were securing land or power rights without plans to build, then trying to flip them to other operators. That clogged the permitting process and created uncertainty for serious Bitcoin mining projects. ERCOT’s response? Make it harder for speculators and easier to identify operators actually committed to building and working with the Texas grid long term. Do you think stricter rules will help Bitcoin mining grow more sustainably in Texas? Drop your take in the comments and subscribe for more Bitcoin and mining insights. #BitcoinMinin
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