Eskom's Surplus Power Plan Sparks Hopes and Concerns Among Crypto Miners
Eskom's proposal to sell surplus electricity to cryptocurrency miners at a discounted rate has garnered support from the crypto sector, but experts warn that the devil lies in the details.
The energy regulator Nersa is consulting on Eskom's proposed two-year pilot tariff for cryptocurrency mining and other flexible-load customers, which sets a benchmark price of about R1.20/kWh.
Steven Boykey Sidley, a partner at Bridge Capital, believes that selling electricity at a discount when no one else wants it is a 'no-brainer', but notes that the details must be properly considered.
The proposed tariff is based on Megaflex, Eskom's time-of-use tariff for large customers, and would allow miners to operate during off-peak hours. However, experts are concerned about how miners will switch off voluntarily during peak hours, and whether there will be auto-telemetry to do so.