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A major factor behind the skyrocketing demand is the rapid innovation in artificial intelligence, which is driving the construction of large warehouses of computing infrastructure that require exponentially more power than traditional data centers.

Industry forecasts show the centers eating up a larger share of U.S. electricity in the years that follow, as demand from residential and smaller commercial facilities stays relatively flat thanks to steadily increasing efficiencies in appliances and heating and cooling systems.

Data center operators are clamoring to hook up to regional electricity grids at the same time the Biden administration’s industrial policy is luring companies to build factories in the United States at a pace not seen in decades.

A huge amount of clean energy is also needed to create the green hydrogen championed by the White House, as developers rush to build plants that can produce the powerful zero-emissions fuel, lured by generous federal subsidies.

That power crunch threw a wrench into the plans of Michael Halaburda and Arman Khalili, longtime data center developers whose latest project involves converting a mothballed tile factory in the Portland area.

The result, said Ben Hertz-Shargel, who authored the Wood Mackenzie analysis, is that crypto’s drain on the grid threatens to inhibit the ability of Texas to power other energy-hungry operations that could drive innovation and economic growth, such as factories that produce zero-emissions green hydrogen fuel or industrial charging depots that enable electrification of truck and bus fleets.

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