NERC report: Cryptocurrency mining and AI data centers are driving North American electricity demand to new highs

the rapid development of cryptocurrency mining and AI data centers is driving North America's electricity demand to new highs. For example, in Texas, it is expected that the annual growth rate during the summer peak period in 2029 will reach 4.6%, which is four times the previous prediction.

NERC pointed out that the power consumption of cryptocurrency mining will fluctuate with market prices, while AI data centers require continuous cooling and storage energy, which poses challenges to grid management. In response to this trend, Texas has implemented an energy response plan and strengthened distributed energy management through the HB 3390 bill. Some mining companies, such as MARA, are also turning to renewable energy.