Effective May 19 Platts, part of S&P Global Commodity Insights, has launched its Bitcoin Quarq Spreads.
The new Platts Bitcoin Quarq Spreads measure the margin of digital Bitcoin miners, taking into account their electricity costs. Platts Quarq spreads reflect how mining profitability changes over time and in different locations. Because the economics of public digital currency mining favor use of the most economically priced electricity, miners are drawn to using renewable capacity at times of relative oversupply.
The new cryptocurrency mining-to-power spreads therefore complement the existing Platts Renewable Penetration Index (RPI), Platts Renewable Curtailment Index and the Platts Renewable Capture Price Index by adding insight into the relative value between renewable electricity and the value of digital currency. Bitcoin miners are drawn to the most economic electricity available. Therefore, knowing where the most economic electricity is available and where the opportunities of available renewable electricity are will help their decision making.
In addition to the daily Platts Bitcoin Quarq Spreads, Platts will also calculate the cost of buying renewable certificates to match the power consumption, using the appropriate North America Renewable Energy Certificate (REC) or Western European Guarantee of Origin (GOs) assessments.
The Bitcoin Quarq spreads are measured in USD/MWh for all locations in the US and Eur/MWh for Germany, UK and Nordic locations.
The Bitcoin Quarq spreads will be databased under the following codes:
Nordics and Germany Description
Spread
Hydro
Wind
Solar
DK1 West Denmark Spot Baseload Bitcoin Quarq Spread $/MWh
ABIDQ00
ABIDR00
ABIDX00
ABIDS00
DK2 East Denmark Spot Baseload Bitcoin Quarq Spread $/MWh
ABIDY00
ABIDZ00
ABIEF00
ABIEA00
FI Finland Spot Baseload Bitcoin Quarq Spread $/MWh
ABIDM00
ABIDN00
ABIDP00
ABIDO00
NO1 Oslo Spot Baseload Bitcoin Quarq Spread $/MWh
ABIAS00
ABIAT00
ABIAV00
ABIAU00
NO2 Kristiansand Spot Baseload Bitcoin Quarq Spread $/MWh
ABIBA00
ABIBB00
ABIBD00
ABIBC00
NO3 Molde Trondheim Spot Baseload Bitcoin Quarq Spread $/MWh
ABIBE00
ABIBJ00
ABIBL00
ABIBK00
NO4 Tromso Spot Baseload Bitcoin Quarq Spread $/MWh
ABIBQ00
ABIBN00
ABIBT00
ABIBS00
NO5 Bergen Spot Baseload Bitcoin Quarq Spread $/MWh
ABIBY00
ABIBZ00
ABICB00
ABICA00
Nord Pool systemwide Spot Baseload Bitcoin Quarq Spread $/MWh
ABIEK00
ABIEL00
ABIEN00
ABIEM00
SE1 Lulea Spot Baseload Bitcoin Quarq Spread $/MWh
ABICG00
ABICH00
ABICJ00
ABICI00
SE2 Sundsvall Spot Baseload Bitcoin Quarq Spread $/MWh
ABICO00
ABICP00
ABICR00
ABICQ00
SE3 Stockholm Spot Baseload Bitcoin Quarq Spread $/MWh
ABICW00
ABICX00
ABICZ00
ABICY00
SE4 Malmo Spot Baseload Bitcoin Quarq Spread $/MWh
ABIDE00
ABIDF00
ABIDH00
ABIDG00
Germany Spot Baseload Bitcoin Quarq Spread $/MWh
ABIAE00
ABIAF00
ABIAH00
ABIAG00
United Kingdom Spot Baseload Bitcoin Quarq Spread $/MWh
Spread
Biomass
Non-biomass
Description
Spread
Renewable Any Tech
Solar
ERCOT AEN Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIEO00
ABIEP00
ABIEQ00
ERCOT Bus Average Spot Baseload Bitcoin Quarq Spread $/MWh
ABIER00
ABIES00
ABIET00
ERCOT CPS Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIEU00
ABIEV00
ABIEW00
ERCOT Houston Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIEX00
ABIEY00
ABIEZ00
ERCOT Houston Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFA00
ABIFB00
ABIFC00
ERCOT Hub Average Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFD00
ABIFE00
ABIFF00
ERCOT LCRA Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFG00
ABIFH00
ABIFI00
ERCOT North Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFJ00
ABIFK00
ABIFL00
ERCOT North Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFM00
ABIFN00
ABIFO00
ERCOT Rayburn Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFP00
ABIFQ00
ABIFR00
ERCOT South Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFS00
ABIFT00
ABIFU00
ERCOT South Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFV00
ABIFW00
ABIFX00
ERCOT West Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIGB00
ABIGC00
ABIGD00
ERCOT West Zone Spot Baseload Bitcoin Quarq Spread $/MWh
ABIFY00
ABIFZ00
ABIGA00
SPP North Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIGE00
ABIGF00
ABIGG00
SPP South Hub Spot Baseload Bitcoin Quarq Spread $/MWh
ABIGH00
ABIGI00
ABIGJ00
The new prices will be published in European Power Daily, Megawatt Daily, Energy Trader, Fixed page AGP2527, Fixed page PEP0010 and Platts Dimensions Pro on a daily basis.
Please address any questions or comments to power@spglobal.com and pricegroup@spglobal.com.
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.
