• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Crypto miners in Texas shut down operations as state experiences extreme heat wave

Jon Hartney by Jon Hartney
July 11, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

ERCOT reported that wind generation in Texas was “generating significantly less,” potentially leaving the state unable to meet energy demands during triple-digit temperatures.

With many parts of Texas enduring days of temperatures well over 100 degrees Fahrenheit in July, many crypto miners have shuttered operations in anticipation of the state’s energy grid being unable to meet demand.

The Electric Reliability Council of Texas, or ERCOT, on Sunday called on Texas residents and businesses to conserve electricity with “record high electric demand” expected on Monday. According to ERCOT’s forecast, demand for electricity in Texas — due in part from running air conditioners amid extreme heat — could surpass the available supply.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

The energy supplier’s prediction model showed demand could reach a record high of 79,615 megawatts (MW). While energy costs in Texas in June were reportedly lessened due to increased production from wind and solar, ERCOT reported on Sunday that wind generation was “generating significantly less than what it historically generated in this time period” — less than 8% of capacity when demand was predicted to be highest.

Many crypto miners in the Lone Star State have announced they have already scaled back or shut down operations in anticipation of demand Texas’ energy grid may not be prepared to handle.  In a Monday announcement on Twitter, crypto miner Core Scientific said it had powered down all its ASIC servers located in the state until further notice “to provide relief to people in Texas.”

To provide relief to people in Texas, ALL of Core Scientific ASIC servers located in the state have been powered down. Core Scientific’s ASIC servers in Texas comprise less than 15% of our footprint, and will remain powered down until further notice.

— Core Scientific (@Core_Scientific) July 11, 2022

A Riot Blockchain spokesperson told Cointelegraph its Whinstone facility in Rockdale had curtailed energy use at ERCOT’s request during the summer months, consuming 8,648 MWh less. Argo Blockchain CEO Peter Wall also said that the firm had also reduced operations in the state — likely referring to its Helios facility in Dickens County.

“In times of high-power demand, we believe that people should take priority over crypto mining,” Wall told Cointelegraph. “When ERCOT sends out a conservation alert, we take it seriously and curtail our mining operations. We did this again this afternoon, as did many of our peers in the mining space.”

#demand response is critical. In the coming years, bitcoin mining will become an indispensable tool in the reliability tool belt. pic.twitter.com/cEicdzodO2

— Lee ₿ratcher (@lee_bratcher) July 8, 2022

Related: Compass Mining loses facility after allegedly failing to pay power bill

Mining firms operating in Texas during the winter months have faced similar challenges since 2021, when freezing temperatures nearly caused the entire grid to shut down — instead, many parts of the state were without power for days. In February, Riot announced that it had shut down 99% of its operations in advance of a possible repeat winter storm, predicted to demand roughly 50,000 MW of electricity — 62% of what Texans may be attempting to draw from the grid on Monday.

ERCOT’s announcement came as many crypto mining firms continue to set up new operations in Texas, seemingly attracted by less regulatory oversight and lower energy costs. In June, Riot Blockchain said it planned to “ship the balance of its S19 miner fleet” from New York to Texas, and Switzerland-based crypto mining firm White Rock Management announced it will be expanding its operations to the United States — starting with Texas.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$23,501.001.63%
  • ethereumEthereum(ETH)$1,621.191.37%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.010.60%
  • usd-coinUSD Coin(USDC)$1.00-0.15%
  • binancecoinBNB(BNB)$311.811.16%
  • rippleXRP(XRP)$0.4163070.56%
  • Binance USDBinance USD(BUSD)$1.010.69%
  • cardanoCardano(ADA)$0.390251-1.17%
  • dogecoinDogecoin(DOGE)$0.0901142.48%
  • matic-networkPolygon(MATIC)$1.161.00%
  • OKBOKB(OKB)$39.598.75%
  • SolanaSolana(SOL)$24.700.04%
  • Lido Staked EtherLido Staked Ether(STETH)$1,613.431.04%
  • polkadotPolkadot(DOT)$6.53-1.18%
  • Shiba InuShiba Inu(SHIB)$0.0000122.09%
  • litecoinLitecoin(LTC)$95.697.75%
  • AvalancheAvalanche(AVAX)$20.86-0.46%
  • tronTRON(TRX)$0.0639290.76%
  • daiDai(DAI)$1.010.49%
  • UniswapUniswap(UNI)$6.81-0.79%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,291.001.03%
  • cosmosCosmos Hub(ATOM)$13.41-2.18%
  • ToncoinToncoin(TON)$2.55-0.47%
  • chainlinkChainlink(LINK)$7.42-0.54%
  • leo-tokenLEO Token(LEO)$3.80-1.57%
  • moneroMonero(XMR)$186.013.08%
  • ethereum-classicEthereum Classic(ETC)$22.762.95%
  • AptosAptos(APT)$18.23-0.56%
  • bitcoin-cashBitcoin Cash(BCH)$136.891.03%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0941650.62%
  • ApeCoinApeCoin(APE)$6.17-2.47%
  • QuantQuant(QNT)$151.69-0.40%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.53-1.73%
  • CronosCronos(CRO)$0.0825200.32%
  • filecoinFilecoin(FIL)$5.470.22%
  • Lido DAOLido DAO(LDO)$2.31-5.01%
  • algorandAlgorand(ALGO)$0.260714-0.91%
  • vechainVeChain(VET)$0.024530-1.53%
  • Internet ComputerInternet Computer(ICP)$6.151.57%
  • HederaHedera(HBAR)$0.068562-1.95%
  • Axie InfinityAxie Infinity(AXS)$11.66-1.53%
  • decentralandDecentraland(MANA)$0.71-2.07%
  • AaveAave(AAVE)$86.48-1.71%
  • eosEOS(EOS)$1.11-0.67%
  • The SandboxThe Sandbox(SAND)$0.75-2.75%
  • FantomFantom(FTM)$0.459363-2.88%
  • FlowFlow(FLOW)$1.08-2.60%
  • MultiversXMultiversX(EGLD)$45.050.07%
  • theta-tokenTheta Network(THETA)$1.10-0.95%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001751.09%
  • tezosTezos(XTZ)$1.12-1.79%
  • FraxFrax(FRAX)$1.00-0.03%
  • true-usdTrueUSD(TUSD)$1.010.85%
  • paxos-standardPax Dollar(USDP)$1.000.53%
  • bitcoin-cash-svBitcoin SV(BSV)$44.590.93%
  • huobi-tokenHuobi(HT)$5.192.57%
  • The GraphThe Graph(GRT)$0.094869-1.25%
  • Frax ShareFrax Share(FXS)$11.173.33%
  • Curve DAOCurve DAO(CRV)$1.10-1.38%
  • kucoin-sharesKuCoin(KCS)$8.193.80%
  • havvenSynthetix Network(SNX)$2.49-2.14%
  • ChilizChiliz(CHZ)$0.139836-0.27%
  • Rocket PoolRocket Pool(RPL)$38.92-1.14%
  • eCasheCash(XEC)$0.000038-2.54%
  • Trust WalletTrust Wallet(TWT)$1.750.92%
  • USDDUSDD(USDD)$0.990.18%
  • BitTorrentBitTorrent(BTT)$0.000001-0.17%
  • PancakeSwapPancakeSwap(CAKE)$4.050.68%
  • KlaytnKlaytn(KLAY)$0.220145-0.27%
  • BitDAOBitDAO(BIT)$0.58-1.40%
  • iotaIOTA(MIOTA)$0.240818-1.77%
  • dashDash(DASH)$56.188.26%
  • GateGate(GT)$4.262.23%
  • zcashZcash(ZEC)$46.930.29%
  • makerMaker(MKR)$665.87-2.08%
  • cUSDCcUSDC(CUSDC)$0.0227460.16%
  • neoNEO(NEO)$8.430.57%
  • gemini-dollarGemini Dollar(GUSD)$1.010.53%
  • OKCOKC(OKT)$32.145.95%
  • THORChainTHORChain(RUNE)$1.87-0.92%
  • cDAIcDAI(CDAI)$0.022146-0.01%
  • BTSE TokenBTSE Token(BTSE)$3.38-1.40%
  • Tokenize XchangeTokenize Xchange(TKX)$6.762.69%
  • Mina ProtocolMina Protocol(MINA)$0.66-1.18%
  • ImmutableXImmutableX(IMX)$0.67-3.07%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • RadixRadix(XRD)$0.05224018.15%
  • ArweaveArweave(AR)$10.450.50%
  • PAX GoldPAX Gold(PAXG)$1,933.680.38%
  • OsmosisOsmosis(OSMO)$0.99-1.17%
  • FlareFlare(FLR)$0.04361510.42%
  • GMXGMX(GMX)$57.013.39%
  • zilliqaZilliqa(ZIL)$0.029628-2.67%
  • OptimismOptimism(OP)$2.23-4.18%
  • nexoNEXO(NEXO)$0.850.16%
  • Tether GoldTether Gold(XAUT)$1,903.200.90%
  • cETHcETH(CETH)$31.91-0.93%
  • enjincoinEnjin Coin(ENJ)$0.457968-7.05%