Lancium Allows Energy Grid Demand Rebalancing With Bitcoin Mining, Raises $150 Million

Lancium, a tech company focused on bitcoin mining, has raised $150 million to expand its renewable energy-run business model across Texas, CNBC reported.

The Houston-based firm develops software and technology to frictionlessly regulate bitcoin mining operations’ uptime based on energy prices and grid load. A common issue with renewable energy farms, demand and supply imbalances provoke price volatility and inconsistent uptimes. Lancium works to enable bitcoin miners to effortlessly plug and unplug their rigs according to energy supply dynamics on the grid while ensuring grid customers can be provided with cheap and sustained power.

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