Texas grid changes boost bitcoin miners' data center ventures

New power grid allocation rules in Texas are poised to benefit bitcoin miners that are diversifying into AI and data center infrastructure. The Public Utility Commission of Texas approved ERCOT's "Batch Zero" process, which streamlines grid capacity allocation for large electricity consumers. This development is particularly significant as Texas faces immense power demand from the burgeoning data center sector, with data centers accounting for approximately 90% of the massive demand in the state's connection queue. Companies like Cipher, Riot Platforms, and Core Scientific, which are already generating revenue from hyperscaler and AI clients, saw their stock prices rise following the announcement.