Miners Fight for Power: Fortitude Cuts ZEC Mining Cost to $40, Texas Pauses New Data Center Approvals
Fortitude Mining purchased a 12.5 MW site in Nebraska for $6.25 million, expecting to lower ZEC mining cost from $70 to $40. Meanwhile, Texas suspended new data center connections pending an audit, potentially boosting the value of existing miner energy contracts, per Bernstein.
Competition for energy capacity among crypto miners has intensified alongside soaring demand from data centers. In Nebraska, Fortitude Mining acquired a 12.5 MW site for $6.25 million. The company expects the purchase to reduce its Zcash mining cost from $70 to $40 per ZEC.
In Texas, grid operator ERCOT has suspended approvals for new data center connections until it completes an audit of system impacts. The queue currently holds over 1,800 applications totaling more than 474 GW of requested capacity, with approximately 90% of new requests coming from data centers.
According to research firm Bernstein, the moratorium is likely to increase the value of existing, already approved energy contracts held by miners, as new supply of contract-ready power becomes constrained.
Source: ForkLog