harrie blaze
New member
Texas Bitcoin miners are shutting down most of their machines due to a power crisis caused by extreme weather. The state is known for its cheap energy and favorable legislation, but the industry has been at the center of a debate. The Biden administration declared a power emergency in Texas due to the 90% curtailment of Bitcoin mining each day. Miners are already struggling with low Bitcoin prices, high electricity costs, growing competition among mining businesses, and an impending Bitcoin blockchain code upgrade that could lower profitability in 2024. Some miners have been able to mitigate the effects of the restriction through long-term power contracts or demand response programs.
