The Briefing Room
State Chapters => Texas => Topic started by: corbe on August 05, 2022, 12:36:44 am
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Texas bitcoin mining facility made $9.5M by shutting off power
Steven Santana - 4h ago
Riot Blockchain, which owns one of Texas' largest bitcoin mining facilities, says that it made an estimated $9.5 million by shutting off its facility amid peak demand on the state power grid brought on by recent record high temperatures. That estimated amount in power is more than the company made in selling bitcoin, according to a recent report from the company.
The facility shut off its mining servers and returned enough power for over 13,000 homes.
The report says that shutting off the 750-megawatt facility in Rockdale, east of Austin, voluntarily allowed the company to return 11,717 megawatt hours in July pack to the power grid managed by the Electric Reliability Council of Texas. That's enough to power to run 13,121 homes for one month.
The $9.5 million in power provided back to ERCOT far surpassed the net proceeds of $5.6 million it received from selling 275 bitcoin in July 2022, according to the report. ERCOT encouraged businesses to cut back on power usage during peak hours as it hit record demand in July.
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https://www.msn.com/en-us/money/markets/texas-bitcoin-mining-facility-made-9-5m-by-shutting-off-power/ar-AA10jhuO?ocid=msedgntp&cvid=095079fcb0914c8a86f8262f1ebcaf8e#image=1 (https://www.msn.com/en-us/money/markets/texas-bitcoin-mining-facility-made-9-5m-by-shutting-off-power/ar-AA10jhuO?ocid=msedgntp&cvid=095079fcb0914c8a86f8262f1ebcaf8e#image=1)
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The report says that shutting off the 750-megawatt facility
Goodness that's equivalent to a decent sized generating facility.
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I'm still paying off the Texas Freezeout in Feb '21 on my utility bill.
Glad someone is making $$$$. /s