Energy intelligence

Oil Rose 85% in a Year to $108. Natural Gas, the Biggest Fuel for Texas Power, Rose 4%. That Is Why Mining Still Pays

U.S. crude oil closed at $107.89 a barrel on October 20, up 85% from a year earlier. The U.S. benchmark natural gas price closed at $3.10, up 4%. For Bitcoin miners the gas price is the one that matters: gas plants make the largest share of Texas grid power, and at $3.10 their fuel costs about 2.3¢ per kWh, against the roughly 7.6¢ a typical modern mining machine can pay. Gas would have to more than triple before fuel alone priced miners out.

October 22, 2026

Texas Hub Power Averaged About $42 a Megawatt-Hour Over the Past Month. Mining Broke Even Near $82

Between September 15 and October 14, 2026, daily average real-time prices at ERCOT's four trading hubs ran $37–42 per MWh on the days with data, about half the $78–85 per MWh a 20 J/TH Bitcoin miner could pay and still cover electricity. Only ERCOT North crossed breakeven, on September 16 and 17. MISO's Indiana hub averaged $64 and crossed it on six days.

October 16, 2026