Crypto miner in Texas shuts down 99% of operations as winter storm approaches
"We are taking proactive measures to shut down operations, shed load and create additional capacity in response to ERCOT's needs should it be necessary,” said the Texas Blockchain Council on behalf of mining firms. With Winter Storm Landon expected to hit parts of Texas this week, major crypto mining firms are powering down in anticipation of high demands on the state’s power grid.Speaking to Cointelegraph on Wednesday, Riot Blockchain’s communications director Trystine Payfer said that the company’s data center in Rockdale already had “99% of [its] power currently shut off” since....
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Major Texas crypto miners adopt a proactive approach and close down 99% of their mining operations to fear an expected Arctic blast. A massive winter storm with heavy snow, rains, and flash flooding with thundered storms can damage the power grids of state areas. The crypto miners enjoy low-cost power energy in the state, reducing […]
A rare winter storm in Texas has knocked out most of the bitcoin mining facilities in the Lone Star State.
Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors.
Compute North Files for Chapter 11 Bankruptcy Protection
Five months ago last April, Compute North revealed the company was building a 300 megawatt (MW) data center in Texas. Months before that at the end of 2021, Compute North entered a deal with Marathon Digital Holdings (Nasdaq:....
"We intend to accept donations via cryptocurrency essentially forever," said the Austin Disaster Relief Network's chief financial officer. There is a running gag among many Texans that anytime someone drops a cup filled with ice, it’s enough of a reason to cancel school — major winter storms are so rare that authorities don’t often have the means to clear and salt icy streets. However, what happened last month in the Lone Star State was no joke. Millions of people experienced a week-long storm with sub-zero temperatures, many impassable streets, burst water pipes, and days without power.....
“The U.S. is where the action is in terms of markets, so we plan to be in at least another couple of states as well as Texas with some diversified offering," said CEO Andy Long. Amid many cryptocurrency mining firms in Texas scaling down operations to reduce the load on the power grid, at least one company set up miners not quite as affected by the state’s energy requirements during extreme heat.In June, White Rock Management expanded its crypto mining operations to Texas — its first in the United States — but reported its facility in the Brazos Valley region would mine Bitcoin (BTC) using....