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Bitcoin miners are strongly negatively correlated with summer peak loads

by Larry Chiang on October 19, 2023

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Margot Paez / jyn urso
⁦‪@jyn_urso‬⁩
Bitcoin miners are strongly negatively correlated with summer peak time ERCOT system wide load. Most loads including typical data centers do not share similar correlations. This means when demand is high, miners power down but other loads generally do not.

According to a March… pic

 
10/18/23, 4:10 PM
 
 

Bitcoin miners are strongly negatively correlated with summer peak loads 
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Bitcoin miners are strongly negatively correlated with summer peak time ERCOT system wide load. Most loads including typical data centers do not share similar correlations. This means when demand is high, miners power down but other loads generally do not.
According to a March 2023 working paper from Menati et al.

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