Rise of crypto mines in region raises concerns; TVA stops giving grants to crypto, meets with miners

By Melanie Fazier · WUOT

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Cryptocurrency mining operations are rapidly expanding in the TVA region, drawn by low electricity rates, but raising concerns about grid stability and residential rate increases. TVA CEO Jeff Lyash confirmed meeting with 300 crypto miners and noted the industry's ability to curtail power during peak demand, though participation in TVA's interruptible power program remains voluntary. Stephen Smith, executive director of SACE, argues that power curtailment should be contractually mandated rather than voluntary, and warns that crypto mining diverts grid resources from more economically beneficial electrification projects.

That should not be left to the whims of a profit motivation by either a corporation or some entrepreneur who is in the risky business of gaming the bitcoin market or the crypto market. It should be something that is contractually bound: you get lower rates, because you shall do this, not, we're gonna beg you to do this. That's the structure that you should want for really large users.
Stephen A. Smith

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