According to BlockBeats, on September 9, Pierre Rochard, vice president of research at Bitcoin mining company Riot Platforms, said that in Texas, excess electricity production caused its price to drop to $0 at one point, and Bitcoin miners were able to absorb this excess energy, thereby effectively stabilizing the power grid.
The analysis points out that Bitcoin mining is often criticized for its energy consumption and environmental impact. However, it also offers significant benefits, particularly in terms of grid stability and energy efficiency. A key advantage is that Bitcoin miners are able to react to fluctuations in energy demand by switching their mining equipment on and off instantly.
