1/n

Looking back at how flexible bitcoin mining loads helped support the ERCOT grid this past Summer ..

1) Miners can regularly and consistently power down

2) Flexible bitcoin miners can act as some of the most responsive loads on the market

3) It’s Economics 101

2/n

1) Miners can regularly & consistently power down

This past summer, ERCOT experienced several days of record power demand. During that time, Lancium used its Lancium Smart Response™ software to dynamically adjust power usage at its Ft. Stockton facility during peak periods

3/n

2) Flexible miners can act as some of the most responsive loads on the market..

Zooming into a week where demand kept breaking records, we see how closely we were able to quickly and flexibly reduce power usage when ERCOT power prices spiked above the S19 mining breakeven

4/n

3) Economics 101

Similar to how a power generator will not offer to sell power for a price lower than it costs to make, a flexible load will not bid to buy power for a price higher than it earns from using that power

It was uneconomic for miners to pay more than $125/MWh

5/5

ERCOT is a trail blazer for integrating large flexible loads into their market design

Last week, Lancium spoke at the @GCPAssociation Fall Conference & presented these slides to an audience of power industry experts to help them visualize the future of flexible mining loads