The latest report from the North American Electric Reliability Corporation (NERC) shows that the rapid development of cryptocurrency mining and AI data centers is driving North American electricity demand to record highs. In Texas, for example, annual peak electricity demand growth in the summer of 2029 is expected to reach 4.6%, four times the previous forecast.
The NERC report noted that electricity usage for crypto mining often fluctuates with market prices, causing sudden changes in grid load, while AI data centers significantly increase power usage due to processing, cooling, and storage needs. Uncertainty in the energy consumption characteristics and load behavior of these industries further exacerbates stress on the grid during peak periods or operational failures. In response to this trend, Texas has implemented an energy response plan and strengthened distributed energy management through HB 3390, and some mining companies such as MARA have also begun to turn to renewable energy. (Cointelegraph)