Democrats led by Sen. Elizabeth Warren are probing how the cryptocurrency mining industry affects the main Texas grid, citing concerns about reliability and climate change.
In a Wednesday letter, Warren and six other Democratic lawmakers asked the Electric Reliability Council of Texas (ERCOT) for data on the power used by crypto mining operations, the associated carbon dioxide emissions and the impact on electricity costs to Texans.
The letter also asked for details on payments to cryptocurrency mining companies for curtailing their energy use under programs that kick in for industrial customers when power supplies are tight. Critics have raised concerns that miners — particularly those for the energy-intensive Bitcoin currency — were given hefty subsidies for curtailing use this summer during heat waves, which also helped the crypto industry avoid higher electricity prices.
“In simple terms, the Bitcoin miners make money from mining that produces major strains on the electric grid:...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...