There is a rapid heatwave spreading through the state of Texas. This means everybody’s air conditioning units are going to be on, and electricity is going to be short. As a result, crypto miners in the Lone Star state are expected to shut down here and there to at least calm their operations for a while.
Texas Is the Crypto Mining Hotspot
Texas, for the past several months, has caught the eye of crypto miners across the globe. Not only does the region offer vast amounts of land for big companies to come and set up large mining rigs, but the state is also synonymous with cheap and affordable energy, which is required heavily by mining firms. Thus, the idea of having the space to run all the rigs you need and paying very little to do it has made Texas extremely attractive to miners.
Even individuals from China – whose country recently put an end to crypto mining as a means of becoming more carbon neutral – have reverted to setting up shop in the state of Texas as a means of continuing their businesses.
Despite the economic growth that the state is likely experiencing, there is a big downside in that Texas now finds itself dealing with energy shortages, and there simply isn’t enough electricity to power all the operations that have come about in the past 12 months. The state is also subjected to some of the hottest weather in the country, meaning everyone turning their air conditioners on during the summer is going to result in serious problems for electricity grids.
Lee Bratcher – president of the Texas Blockchain Council – stated in an interview that many crypto and bitcoin mining companies within the region are aware of what’s happening and are willing to comply with the state’s desperate pleas that they do their part in conserving energy. He mentioned:
They are shutting down for several reasons, but primarily because it is the right thing to do to be a good ‘grid citizen.’
The move will potentially help Texas recover, especially during its peak hours.
Who Still Believes These Energy Arguments?
There have been many arguments in recent years regarding how much energy bitcoin mining officially requires. While there have been countless reports saying that bitcoin and crypto mining uses more energy than certain countries, there are others out there that say these reports are heavily exaggerated, and crypto mining doesn’t need as much electricity as some might assume.
Some industry heads have gone all the way in working to protect the planet from the “evils” of crypto mining. One such figure is Elon Musk, who after announcing that Tesla vehicles could be purchased with bitcoin last year, later rescinded the decision out of fear that crypto mining was using too much energy and harming Mother Earth.