Texas Bitcoin Miners Shuttering Rigs as Heat Crisis Intensifies – Bloomberg Law

Texas Bitcoin miners, embroiled in a controversy over their energy-intensive operations, are shutting down most of their machines while the state grapples with its power crisis.

The Lone Star state is one of the top destinations for Bitcoin miners thanks to its traditionally low-cost energy and friendly regulations. Large-scale mining companies such as Riot Platforms Inc. and Marathon Digital Holdings Inc. have major facilities across Texas.

The industry has been in the vertex of a controversy since Texas started having some of the worst power crises due to extreme weather in recent years. The Biden administration declared a power emergency …

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