The Public Utility Commission of Texas (PUC) has adopted 16 TAC § 25.114 (available here), requiring certain virtual currency mining facilities (VCMFs) to register as “large flexible loads” if they receive more than 75 MW of retail electricity in the ERCOT region and have an interruptible load of at least 10% of the facility’s actual or anticipated annual peak demand.
The adopted rule implements Public Utility Regulatory Act (PURA) § 39.360, which requires the commission to establish generally applicable large flexible load registration requirements.
Key Takeaways:
- Deadline: Currently operating facilities must register by February 1, 2025. New facilities must register within one working day of receiving power.
- Interruptible Load: The requirement applies if the operator can interrupt load, regardless of intent.
- No Minimum Mining Threshold: If any portion of the power at a facility is used for mining virtual currencies, and the facility meets the 75 MW and 10% interruptible load thresholds, it must register.
In its adopting order (available here), PUC highlights that the definition of VCMF hinges on the“use [of] electronic equipment to add virtual currency transactions to a distributed ledger,” and so PUC declined to implement an exemption from registration based on how much of a facility’s load is dedicated to virtual currency mining. For example, a 76 MW facility that uses nearly all its power for non-mining purposes but uses 1 kW for mining, would still qualify as a VCMF and so must register. In other words, if a facility uses any power for mining and meets the load criteria, registration is mandatory.
Facilities can begin their registration process at PUC’s landing page: https://www.puc.texas.gov/industry/electric/business/vcm/
