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Bitcoin Miners Shut Off Rigs as Texas Power Grid Nears Brink
- quantified 4y agoSurprised that there are anti-business regulations in Texas that would require the shutdown of profit-making enterprises.
- wmf 4y agoThey don't require anything to shutdown. The miners are probably voluntarily participating in a demand response program where they get paid to free up capacity for others. https://www.ercot.com/services/programs/load https://www.ercot.com/services/programs/load
- quantified 4y agoMisreporting by Bloomberg then: > The operator has been working with Bitcoin miners, who are required to turn off their mining machines when the state faces energy shortages. Without being required, why would they volunteer?
- wmf 4y agoWhen there's a shortage of power the price of power is also quite high so it's probably not profitable to mine anyway.