Bitcoin

The $6.3 billion charge through 2029 is a direct consequence of surging data center demand, which includes both AI and crypto mining. This reinforces the narrative that energy-intensive proof-of-work mining faces growing regulatory and economic headwinds. Over time, it may push miners toward cheaper, renewable energy sources or force consolidation, potentially reducing network hash rate growth and affecting Bitcoin's security budget.

Monitoring Analytics reported that PJM's recent electricity auction is expected to add $6.3 billion to customer bills across 13 states and Washington, D.C. through 2029, driven by data center demand.

PJM Power Auction Adds $6.3B to Bills, Threatens Bitcoin Mining Margins

PJM's $6.3B electricity hike is a hidden boon for Bitcoin miners with fixed power contracts, triggering a consolidation wave that reduces sell pressure.