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Winter storm descends on Texas, bitcoin miners shut off to protect ERCOT

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As a major winter storm descends on Texas, crypto miners are powering down operations to help ease the burden on the state’s already beleaguered power grid. 

The chief concern is that we might see a repeat of February 2021, when a deep freeze devastated large swaths of the state, leaving 10 million Texans without electricity and resulted in a multisystem meltdown that “was within minutes of a much more serious and potentially complete blackout.” Hundreds of people died amid the multiday outage. 

Riot Blockchain, one of the biggest publicly traded crypto mining companies in America, began shutting down power to its Rockdale mine on Tuesday, a process that occurs in phases.  

“As the…



Source cnbc.com

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