Lancium Inc. is a cryptocurrency mining infrastructure company that has reached a deal to supply battery power to Texas’ Broad Reach Power LLC. Broad Reach Power plans to supply battery power to Lancium’s Fort Stockton-based 25-megawatt facility and when the grid is swamped by excessive energy demand, Lancium can continue mining without reducing its computational power.
Lancium Partners With Broad Reach Power — Exec Says ‘Grid Operators Are Looking for Solutions to Help Address the Challenge of Intermittency’
Lancium, an energy company and crypto mining technology infrastructure provider, announced on July 7th 2022 a partnership agreement with Broad Reach Power LLC in Houston. According to the new agreement, Broad Reach, which operates 21 gigawatts (GW) of power from energy storage, wind, and solar, will provide energy to Lancium’s Fort Stockton, Texas, 25-megawatt (MW) Clean Campus data center.
The first phase of the 25 MW facility will begin operations this summer and the Fort Stockton data center will be working with ERCOT’s services as well. Bitcoin.com News published a report on Lancium towards the end March 2022. This was when Cleanspark’s bitcoin mining operations expanded and signed an agreement with the crypto-mining and energy technology firm. Shaun ConnellLancium’s EVP of Power explained that grid operators were looking for solutions for excessive energy demand on Thursday.
Bitcoin.com News, for instance, reported four days back on Duke Energy as the U.S.’s second-largest energy company, looking at bitcoin and demand response programmes. On July 5, Lancium’s Connell discussed how his company aims to “improve [the] viability of renewable energy resources” through Lancium’s solutions. “As the generation mix evolves and generation from renewables grows, grid operators are looking for solutions to help address the challenge of intermittency,” Connell said in a statement on Thursday during the partnership announcement with Broad Reach. Connell said:
Our technology allows data centers to adjust their power consumption in accordance with the grid. This helps stabilize the grid and promote the growth of renewable energy. We believe Broad Reach’s vision and experience in how to manage dynamic energy storage resources will help support Lancium as we continue our work to advance the reliability and resiliency of the electric grid.
White House to Publish a PoW Report — Broad Reach Explains the Company ‘Understands the Importance of Responsive Generation and Load Resources’
The partnership between Lancium and Broad Reach follows the Biden administration’s interest in proof-of-work (PoW) mining operations. Costa Samaras is the Principal Assistant Director for Energy at the Office of Science and Technology Policies. He explained how the White House intends to release a report soon on the mining industry. “It’s important if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions. When we think about digital assets, it has to be a climate and energy conversation,” Samaras said.
Broad Reach’s EVP Paul Choi remarked on Thursday that the company aims to help the economy move toward clean energy use. “As one of the largest developers of stand-alone energy storage, Broad Reach understands the importance of responsive generation and load resources to help the economy transition to a cleaner power grid,” Choi said. “Because of our experience managing energy storage, we are uniquely positioned to provide the necessary services for Lancium to power its Clean Campus,” the Broad Reach executive concluded.
What do you think about Lancium’s and Broad Reach Power’s partnership? Comment below and let us know how you feel about the subject.
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