Texas grid paid firm to stop mining crypto during heatwave
Texas grid paid firm to stop mining crypto during heatwave
Riot Platforms ended up earning more than three times as much from energy credits than it did from mining actual Bitcoin.
![Texas grid paid firm to stop mining crypto during heatwave](https://lemmy.world/pictrs/image/0e254234-d860-4e64-a88f-0325515b61b1.jpeg?format=webp&thumbnail=256)
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At first glance, this makes zero sense, but once you dig in and read the details, it makes even less sense
104 0 ReplyI especially like the part where they say encouraging crypto mining will somehow create power grid innovations. What?
61 0 ReplyEither you innovate or you pay that company $32M every summer forever
23 0 ReplyI'm pretty sure their goal is the latter based on the other part of the article which says they can act like padding.
11 0 Reply
Not in Texas, at least. Our government here is in the habit of actively making everything worse, not better.
13 0 ReplyTrickle down grid, food, climate, whatever just fucking gimmie peasant. /s
9 0 ReplyThat has the same energy as someone claiming they drive better tipsy than sober
7 0 Reply
pro tip, be born with a parent who runs a large power grid who can buy your debts
20 0 ReplyMakes sense to me, just sounds like the crypto company is holding the state's power grid hostage
11 0 ReplyWho has the keys to free the hostage? ERCOT or the Crypto Mine?
Don't blame the Crypto Mine for the decisions of the State or ERCOT.
TVA doesn't give energy credits. They give you a thirty minute notice that your ¢/kwh is about to quadruple.
3 0 Reply
You know what they say, whenever the stars are over Texas....
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1 0 Reply