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Bitcoin miners kill their projects over scorching Texas heat

Cryptocurrency miners have decided to shut down operations to avoid putting extreme strain on Texas' struggling electricity grid.

@JakConnorTT
Published Jul 15, 2022 1:10 AM CDT   |   Updated Mon, Aug 8 2022 12:15 PM CDT

Energy authorities have requested Texas residents to reduce energy consumption to prevent blackouts following temperatures of more than 100 degrees Fahrenheit.

Bitcoin miners kill their projects over scorching Texas heat 01 | TweakTown.com

A Texas heatwave has caused a major strain on the electricity grid, causing state energy officials to ask Texas residents to reduce energy consumption to stop blackouts and power outages. Notably, Bitcoin mining companies have voluntarily halted operations, which has freed up approximately 1,000 megawatts of power, per the Texas Blockchain Council. The volunteer halting of mining operations has given back 1% of the grid's total electricity capacity.

Furthermore, Lee Bratcher, the president of the Texas Blockchain Council, said there are also other reasons that miners are stopping operations as the price of electricity severely increases when there is high demand. According to Bloomberg, cryptocurrency miners in Texas have increased energy costs by up to 6 gigawatts by the middle of 2023.

In other cryptocurrency news, down-bad investors are flocking to a Telegram group to literally scream out their frustrations.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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