CastletonSnob Posted September 7, 2023 Share Posted September 7, 2023 Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in August WWW.CNBC.COM Bitcoin miner Riot Platforms raked in $31.7 million in energy credits from Texas power grid operator ERCOT in August. Remind me why we're not investigating ERCOT? 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted September 7, 2023 Share Posted September 7, 2023 Quote “August was a landmark month for Riot in showcasing the benefits of our unique power strategy,” To hold the state hostage Quote The Electric Reliability Council of Texas, or ERCOT, has a relatively simple and mutually beneficial relationship with bitcoin miners. The miners raise rates and ERCOT passes costs to everyone else, then they give a cut to the miners. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted September 7, 2023 Share Posted September 7, 2023 Lololol Free market at work Quote Link to comment Share on other sites More sharing options...
Brian Posted September 12, 2023 Share Posted September 12, 2023 Texas power prices soar 20,000% as brutal heat wave sets off emergency MARKETS.BUSINESSINSIDER.COM On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning. 1 Quote Link to comment Share on other sites More sharing options...
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