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Texas bitcoin mining operation holds electric grid ransom, is paid more than it earns mining to not run its hardware on high-load days (hexbear.net)

submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]

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From "Why Texas Republicans are Souring on Crypto" from The Economist https://archive.ph/eIXGc

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[-] [email protected] 64 points 11 months ago

this is just extortion isn't it?

Ey nice power grid, be real unfortunate if someone were to use an excessive amount of electricity at peak times

[-] [email protected] 46 points 11 months ago

and when the state needs to shut down power use in an emergency its not the bitcoin farm that gets the power cut off, but the houses/apartments of working class people

this post was submitted on 08 Sep 2024

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