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As a blistering heat wave smothered Texas this week and taxed the power grid with record-high demand, bitcoin mining operators in the state shut down their electricity-guzzling machines.
Complying with requests from the Electric Reliability Council of Texas — the grid operator that asked businesses and residents to voluntarily conserve electricity during the heat wave — nearly all industrial-scale mining in the state powered down, according to the Texas Blockchain Council, an industry association.
Cryptocurrency mining requires huge amounts of electricity, prompting concerns not only around whether Texas’s beleaguered grid can keep up with skyrocketing demand as more miners are expected to flock to the state, but also over the industry’s broader potential environmental impact.
“Over 95% of industrial-scale bitcoin mines curtailed their power consumption during peak demand...
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