Tue. Sep 27th, 2022

Many cryptocurrency miners in Texas, one of the largest Bitcoin mining hubs in the U.S., are halting their operations as the state’s electrical grid faces surging power demand amid a heat wave.

See related article: Marathon Digital says Montana storm knocked out most Bitcoin rigs

Fast facts

  • Nasdaq-listed miner Core Scientific on Tuesday said that it has unplugged its ASIC servers in the state to “provide relief to people in Texas.”
  • The Electric Reliability Council of Texas, which operates the state’s grid, on Saturday urged local residents and businesses to voluntarily conserve electricity on Monday, according to local television KBTX.
  • In response to that, London-headquartered miner Argo Blockchain said Monday its facility would curtail power in Dickens County, Texas in the afternoon to help conserve electricity.
  • Last month, Marathon Digital, a major Bitcoin miner in the U.S., had to halt three-fourths of its mining operations in Montana due to power outages caused by a storm.
  • U.S. power companies are facing supply crunches due to extreme weather events, while consumer power use is expected to hit a record high this summer, according to Reuters.

See related article: Compass Mining CEO, CFO resign after utility payment default allegations

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