Crypto Miners Halt Operations in US State of Texas

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Cryptocurrency miners have recently shut down operations in Texas amid heatwave-driven peak electricity demand, Bloomberg has reported.

According to the publication, last July 10, the state’s main grid operator, ERCOT, urged residents and businesses in the state to conserve electricity. According to the provider’s forecast, daytime demand may exceed generation volumes.

Lee Bratcher, president of the Texas Blockchain Association, has said:

“More than 1,000 MW of Bitcoin mining loads have responded to ERCOT’s request for savings by shutting down their devices. This represents almost all of the mining industry in the state and allows you to return more than 1% of the total network capacity.”

Core Scientific has confirmed that they have disabled all ASIC miners located in Texas. The company has clarified that we are talking about less than 15% of its total mining capacity.