01 Sep 2022 | 13:29 UTC

Platts launches new locations for Global Bitcoin Quarq spreads

Platts, part of S&P Global Commodity Insights, has launched new locations for its Bitcoin Quarq Spreads, effective Sept. 1.

Platts has increased locations for its Quarq Spreads to 43 from 31.

New locations are France and Spain, and areas from the US states of Georgia, New York, California, Kentucky and Washington.

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 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 also calculates 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.

Bitcoin Quarq spreads are measured in USD/MWh for all locations in the US and Eur/MWh for France and Spain.

Bitcoin Quarq spreads expansion will be databased under the following codes:

Europe

France and Spain Description

Spread

Renewable Hydro

Renewable Wind

Renewable Solar

France Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAE00

AQSAF00

AQSAH00

AQSAG00

Spain Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAM00

AQSAN00

AQSAP00

AQSAO00

North America

Description

Spread

Renewable Any Tech

Renewable Solar

Into Georgia Transmission Corp Spot Baseload Bitcoin Quarq Spread $/MWh

AQSMA00

AQSNA00

AQSOA00

Into Tenn Valley Authority Spot Baseload Bitcoin Quarq Spread $/MWh

AQSPA00

AQSQA00

AQSRA00

Indiana Hub Spot Baseload Bitcoin Quarq Spread $/MWh

AQSSA00

AQSTA00

AQSUA00

NYISO Central Zone C Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAQ00

AQSAR00

AQSAS00

NYISO Mohawk Valley Zone E Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAZ00

AQSBA00

AQSCA00

NYISO North Zone D Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAT00

AQSAU00

AQSAV00

NYISO West Zone A Spot Baseload Bitcoin Quarq Spread $/MWh

AQSAW00

AQSAX00

AQSAY00

CAISO NP16 Gen Hub Spot Baseload Bitcoin Quarq Spread $/MWh

AQSDA00

AQSEA00

AQSFA00

CAISO SP15 Gen Hub Spot Baseload Bitcoin Quarq Spread $/MWh

AQSGA00

AQSHA00

AQSIA00

Washington Mid-Columbia Spot Baseload Bitcoin Quarq Spread $/MWh

AQSJA00

AQSKA00

AQSLA00

The new locations 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.