NERC report: Cryptocurrency mining and AI data centers are driving record high electricity demand in North America

On December 24th, according to Cointelegraph, the latest report from North American Electric Reliability Corporation (NERC) shows that the rapid development of cryptocurrency mining and AI data centers is driving record high electricity demand in North America. Taking Texas as an example, it is expected that the annual growth rate of electricity peak in the summer of 2029 will reach 4.6%, which is four times the previous forecast. NERC pointed out that the electricity consumption of encrypted mining will fluctuate with market prices, while AI data centers require continuous cooling and energy storage, which pose challenges to power grid management due to these unstable factors. In response to this trend, Texas has implemented an energy response plan and strengthened distributed energy management through the HB 3390 bill, and some mining companies such as MARA have also begun to shift towards renewable energy.