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But we saved everything 🙂.
Javier Hermosa stated that Spain needs bitcoin mining if the country aims to fix its electric grid. Hermosa described the current state of the Spanish grid as being in 'reinforced mode,' with gas plants originally designed for baseload production now being used as peaker plants, leading to their deterioration. He added that political pressure is affecting grid operations.
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Hermosa previously explained that bitcoin mining and battery installations led to a sharp decline in ERCOT demand response revenues, falling from $100,000 per MW in 2023 to $13,000 in 2025, according to his recent analysis. He also reported delays at a 6MW bitcoin mining facility in Houston caused by blown fuses that halted operations despite extended preparation, as detailed in another update. These incidents illustrate ongoing operational and revenue challenges in the sector.