Bitcoin mining could be great for Texas’s grid — according to Bitcoin miners

Quick Take

  • As Bitcoin’s China-based hash rate plummets due to shutdown orders from regulators, Texas is emerging as an attractive option for Bitcoin miners.
  • Miners argue that mining is just as good for Texas as Texas is for miners since the unique aspects of the industry’s electricity use can strengthen the state’s power grid.
  • It’s possible, but it’s unclear how that will work in practice.
Bitcoin miners say setting up shop in Texas will benefit the electricity grid. In theory that may be true. In practice, it’s hard to know.

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Aug 11, 2021, 5:18PM UTC