The Basics
To help you get started, here’s a quick overview of how miners interact with U.S. power markets
ISOs (Independent System Operators)
ISOs manage electricity grids across regions. They coordinate energy pricing, dispatch, and balancing markets. For miners, ISOs define day-ahead and real-time prices which are critical inputs for profitability. Currently, ERCOT is the only ISO that Luxor Energy can provide services in. Throughout 2026, we hope to expand into several other ISOs.
Energy Supplier (Retail Electric Provider)
An energy supplier acts as an intermediary between load and generation. In ERCOT, an energy supplier is known as a REP (Retail Electric Provider), and can source electricity for miners at wholesale or contracted rates.
Demand Response (DR)
DR programs reward miners for curtailing load during periods of high grid stress. By integrating with Luxor Energy, you can directly compare DR revenue alongside compute revenue from the Luxor Mining Pool.
Energy-Adjusted Hashprice
Energy Adjusted Hashprice expresses Hashprice (from Luxor’s Hashrate Index) in terms of revenue per megawatt of power consumed. Instead of looking only at revenue per unit of hashrate, this metric normalizes earnings against energy usage, giving miners a more accurate picture of operational profitability. By framing returns in $/MW, miners can directly compare their earnings with their power costs and evaluate the true efficiency of their operations.
Breakeven Energy Price
The maximum $/MWh miners can pay before operations become unprofitable. This threshold depends on ASIC efficiency, hashrate, and Hashprice. The Luxor Energy Dashboard visualizes it as a white line in the Operations chart.