Texas grid paid firm to stop mining crypto during heatwave
Texas grid paid firm to stop mining crypto during heatwave
Riot Platforms ended up earning more than three times as much from energy credits than it did from mining actual Bitcoin.
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At first glance, this makes zero sense, but once you dig in and read the details, it makes even less sense
I especially like the part where they say encouraging crypto mining will somehow create power grid innovations. What?
Either you innovate or you pay that company $32M every summer forever
I'm pretty sure their goal is the latter based on the other part of the article which says they can act like padding.
Not in Texas, at least. Our government here is in the habit of actively making everything worse, not better.
Trickle down grid, food, climate, whatever just fucking gimmie peasant. /s
That has the same energy as someone claiming they drive better tipsy than sober
pro tip, be born with a parent who runs a large power grid who can buy your debts
Makes sense to me, just sounds like the crypto company is holding the state's power grid hostage
Who has the keys to free the hostage? ERCOT or the Crypto Mine?
Don't blame the Crypto Mine for the decisions of the State or ERCOT.
TVA doesn't give energy credits. They give you a thirty minute notice that your ¢/kwh is about to quadruple.
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Even if all you have is wind and solar, you can still turn it into baseload power by pumping water up behind dams, storing it in battery grids, or turning it into green hydrogen via electrolysis. Hell, you could even use it to heat up salts until they turn into a molten salt, which can be used for about 12 hours, going off of solar towers with molten salt generators...
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Even if that's their strategy you're not guaranteed a return when mining. If you or your cluster don't mine the block all of that energy was absolutely wasted. If we didn't have a shitty ass isolated grid we could just sell the energy to another part of the country.
You know what they say, whenever the stars are over Texas....
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