President Trump Plans an “Emergency Power Auction”: What It Could Mean for Bitcoin Miners

Core Insights - President Trump is set to announce an emergency power auction aimed at easing rising electricity costs, which could impact the cryptocurrency sector and the broader economy ahead of the 2026 midterms [1][5] Group 1: Emergency Power Auction Details - The auction will involve tech firms bidding for 15-year contracts to build new power plants, potentially supporting the development of approximately $15 billion worth of new facilities [3] - The initiative is being pushed by Trump and governors from several Northeastern states, with a non-binding "statement of principles" expected to be signed by Trump's National Energy Dominance Council and state leaders [2] Group 2: Electricity Demand and Pricing - PJM, the largest electricity grid operator in the U.S., supplies power to over 67 million people and hosts the world's largest concentration of data centers, particularly in northern Virginia [4] - The average U.S. retail electricity price rose 7.4% to a record 18.07 cents per kilowatt-hour in September 2025, with residential prices increasing even more [6] - Between January and August 2025, electricity prices surged by 10.5%, marking one of the largest increases in over a decade [7] Group 3: Impact on Industries - The growing demand for electricity is largely driven by large data centers, which are essential for economic expansion and maintaining the U.S.'s competitive edge in artificial intelligence [6] - Bitcoin miners, who previously relied on cheap electricity, are being displaced as AI data centers secure long-term power contracts, shifting the competitive landscape [8]