Texas bitcoin miners halt operations to save energy during heat wave
— Wave, Heat, Degrees, Grid, Energy, Miners, Bitcoin, Mining, Save, Power — 1 min read
Texas has become a hub of crypto-mining thanks to its business-friendly regulatory environment and low energy costs. The state's power utility, ERCOT, has asked businesses and residents to conserve energy in order to avoid rolling blackouts. The mercury has hit triple digits in Texas, smashing records and sending demand for electricity surging during an intense heat wave. The halt in mining activity comes at a perilous time for the cryptocurrency industry. Bitcoin fell below $20,000 this week, a far cry from its all-time high of more than $64,000 back in November. Some governments have cracked down on mining after their energy grids were unable to sustain the stress caused by the process due to the energy-intensive process.Shares of companies engaged in Source