Lancium Launches Solution to Lower Power Costs for Bitcoin Miners
Today, Lancium, Inc., an energy technology and infrastructure company that advances the decarbonization and stability of the electric power grid, announced the commercial availability of Lancium Smart Response™, the company's groundbreaking solution for bitcoin miners and other applications to lower their power costs by approximately 50 percent or more while optimizing mining operations.
Lancium Smart Response allows users to access the highest value grid stabilization programs – something that no other demand response provider can offer.
"We have seen firsthand that Lancium Smart Response can drastically improve the economics for miners in Texas, which is even more critical during industry downcycles," said Michael McNamara, co-founder and chief executive officer of Lancium. "Expanding access to Lancium Smart Response will provide a critical tool for miners looking to lower costs, while also helping stabilize the power grid."
Customers enrolling in Lancium Smart Response gain access to a host of technology solutions and services to lower costs and optimize performance.
Unparalleled Power Management: Lancium Smart Response is the only system that automatically responds to power grid conditions and signals in seconds. Lancium is able to automatically adjust power usage to achieve this – no employee interventions required.
Improves Returns from Mining : Customers using Lancium Smart Response can become certified by the Electric Reliability Council of Texas (ERCOT) to participate in the highest value grid stabilization programs which helps Lancium customers earn higher revenue than typical Load Response participants and can reduce power costs by 50 percent or more.
Simplifies and Improves Operations : Lancium Smart Response allows customers to do more. With Lancium handling the implementation and 24/7 power management and optimization, customers can focus on mining – not power.
Helps Ensure a Stable and Cleaner Power Grid: Using Lancium Smart Response helps enhance the flexibility of the grid. By using Lancium's solutions, large power users can provide additional grid support, while incentivizing new, renewable generation.
"Lancium Smart Response is not your average demand response solution. Beyond our groundbreaking technology solution, our customers are supported by an unmatched team of power, transmission and regulatory experts working to optimize the operations of our customers. Our combined offering provides a competitive advantage for miners."
Since 2017, Lancium has invested millions of dollars and tens of thousands of personnel hours in research and development efforts to improve the efficient operation and dispatchability of rampable datacenters. Lancium holds a number of patents for the technologies it has developed. As a result of these efforts, in June 2020, Lancium successfully qualified the first datacenter CLR in ERCOT's history.
In addition to bitcoin mining, Lancium Smart Response can be used to advance other applications such as high performance computing and hydrogen production.