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The Public Utility Commission of Texas (PUCT) Staff filed a proposal for publication for the Commissioner’s consideration at the August 29, 2024, Open Meeting. Commission Staffs proposal would create new §25.114, relating to Registration of Virtual Currency Mining Facilities. The proposed rule implements PURA §39.360 as enacted by SB 1929 from the 88th Texas Legislature R. S. Proposed §25.114 establishes a process for the registration of virtual currency mining facilities in the ERCOT region that demand a large load of interruptible power. Commission Staff recommends the Commission approve this proposal for publication in the Texas Register.

Excerpts from Staff’s Memo:
{***} The Public Utility Commission of Texas (commission) proposes new §25.114, relating to Registration of Virtual Currency Mining Facilities. The proposed rule implements Public Utility Regulatory Act (PURA) §39.360 as enacted by Senate Bill (SB) 1929 from the 88th Texas Legislature (R.S.). Proposed §25.114 establishes a process for the registration of virtual currency mining facilities in the Electric Reliability Council of Texas (ERCOT) region that demand a large load of interruptible power. The proposed rule would require a registrant to provide information to the commission annually about its virtual currency mining facility’s location, owners, form of business, and demand for electricity. The commission may share the registrants’ information with ERCOT.  

Public Comments Interested persons may file comments electronically through the interchange on the commission’s website. Comments must be filed by October 14, 2024. Comments should be organized in a manner consistent with the organization of the proposed rule. The commission invites specific comments regarding the costs associated with, and benefits that will be gained by, implementation of the proposed rule. All comments should refer to Project Number 56962. {***}

Under Staff’s draft, a “person” (which under Texas law generally includes businesses organized under various typical forms) operating a “virtual currency mining facility” in ERCOT shall register with the PUC as a large flexible load if the facility requires a total load of more than 75 MW and the facility’s interruptible load equals 10 percent or more of the actual or anticipated annual peak demand of the facility.

Existing facilities would be required to register by February 1, 2025. New facilities would be required to register one working day after the facility starts receiving retail electric service

Among other things, the registration requirement would require the registrant to provide:

• the name, address, and county of operation of each facility
• the size of the facility in square feet and a description of the infrastructure, including whether it is fixed or movable, open or enclosed
• the names of the TDSPs serving the facility and the load zone the facility is located;
• the ESI-ID or equivalent unique premise identifier assigned to the facility;
• the anticipated peak electric demand, in MW, from the facility for each year of the five-year period beginning on the date of the registration;
• the percentage of the site load that meets the definition of interruptible load under the proposed rule;

Under the draft, interruptible load means the portion of the facility’s load that the facility operator can choose to interrupt due to locational marginal prices, load zone prices, response to the ERCOT coincident peak demand for the months of June, July, August and September (4CP), or due to external grid conditions.

• the actual peak load in MW and total power consumption in MW hours for the prior calendar year;
• whether the facility has on-site backup generation and, if so, the nameplate capacity (in MW) of the generation;

Any material changes in the registrant’s information would be required to be filed within 30 days of occurrence.

Registrations would be required to be renewed annually. Registrations for registrants who do not file a renewal would expire.

Memo and Proposal for Publication  (08/23/2024)
Project  56962  (08/16/2024)
Virtual Currency Mining Registration