Texas heatwave and energy crunch curtails Bitcoin mining
Bitcoin miners in the Lone Star State are powering down this week as a punishing heatwave stresses the power grid. Texas’ grid operator asked residents and businesses to conserve energy on Monday with “extreme hot weather driving record power demand across Texas.”
Bitcoin mining companies in the state responded by turning off their machines that otherwise would have used over 1,000 megawatts of electricity, according to the Texas Blockchain Council. That freed up about 1 percent of the grid’s total capacity.
“They are shutting down for several reasons but primarily because it is the right thing to do to be a good ‘grid citizen,’” Lee Bratcher, president of the Texas Blockchain Council, said to The Verge in an email. There are also…