A team of researchers at Texas A&M University is studying the impact of cryptocurrency mining on the power grid and energy consumption. The study found that cryptocurrency transactions use more electricity than some countries, such as Argentina and Australia, consume in a year. The research also revealed an 18% reduction in worldwide cryptocurrency mining during the summer heatwave in Texas in 2022 due to stress on the power grid. However, the study suggests that crypto mining could provide flexibility during peak energy usage periods if modeled as a flexible load that can be turned off during stressed moments. The findings were published in two academic journals focused on energy markets, policy and regulation.