Genuine question, wouldn’t large mining farms avoid regions where electricity is in high demand, and therefore have higher electricity rates, making it unprofitable for mining? Plus electricity generated is only “wasted” if there’s a surplus and the surplus isn’t used.
Excess Energy is never wasted, that is a myth.
Texas energy rate prices are lower than average, which is why miners are flocking there.
Most Power Grids are interconnected, they have to maintain a % of power to keep their grid stable,
when their usage is lower, they sell the so called excess energy to the other grids.
(Their is No wasted energy.)So their is no massive amount of excess energy in the grid system.
But in regions with low demand for electricity, don’t the power stations regulate the output themselves, which could lower profit? Wouldn’t industrial POW miners be welcome consumers for those power stations because it makes them generate the output to their capacity? I don’t know why some people believe this is bad. It’s simply commerce.