Bitcoin Miners Helped Texas Avoid $18 Billion Energy Costs: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2025
0mins
Should l Buy RIOT?
Source: Benzinga
Bitcoin Mining's Impact on Texas Energy Costs: A report by the Digital Assets Research Institute highlights that Bitcoin mining has helped Texas avoid $18 billion in energy costs by stabilizing the electrical grid, reducing the need for gas peaker plants which are costly and environmentally damaging.
Flexibility of Bitcoin Miners: Bitcoin miners contribute to grid stability by adjusting their energy consumption based on electricity availability, allowing for better integration of renewable energy sources during peak demand periods.
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Analyst Views on RIOT
Wall Street analysts forecast RIOT stock price to rise
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 16.920
Low
20.00
Averages
27.00
High
42.00
Current: 16.920
Low
20.00
Averages
27.00
High
42.00
About RIOT
Riot Platforms, Inc. is a Bitcoin mining and digital infrastructure company. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas. It operates a Bitcoin-driven infrastructure platform. Its segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment is engaged in Bitcoin mining activities. The Engineering segment designs and manufacturers power distribution equipment and custom engineered electrical products. This segment also provides electricity distribution product design, manufacturing, and installation services primarily focused on large-scale commercial and governmental customers and serves clients across a range of markets including data center, power generation, utility, water, industrial, and alternative energy. It is also focused on developing a portion of its power capacity for artificial intelligence (AI)/ high-performance computing (HPC) uses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Oil Price Plunge: WTI crude oil prices fell over 7% due to potential US-Iran ceasefire extensions, which will lower jet fuel costs for airlines, thereby boosting profitability and further supporting stock market gains.
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