Bitcoin mining could lead to big competition for electricity in Permian Basin


Oil and gas operators in the Permian Basin, yes, including those Oklahoma firms operating there, will soon find themselves in competition with bitcoin mining and data centers—competition for electricity.

Electricity demand in the Permian will more than double by 2030 compared to 2021, according to the Electric Reliability Council of Texas. Within the next six years, an estimated 58% of that demand will come not from oil and gas, but from cryptomining operations.

Almost all of the current industrial electricity demand in the region is from oil and gas.

E&E News reports it will likely lead to a “major strain” on the Texas electrical grid.

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