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When energy demand and prices spike, the cost of the energy outweighs the price of Riot staying in operation, so “they're going to shut down anyway,” Sawicky said. Her argument was echoed by State Senator Lois Kolkhorst, who sponsored the mining cap bill, and environmental advocates at the bill hearing. Source
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Miners aren’t just good for renewables. They can also make use of stranded methane, a potent greenhouse gas, that is often uneconomical to bring to market. Methane is frequently vented or flared from landfills, abandoned wells, and oil and gas operations. Original Source
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Crypto ATMs — one of the key infrastructure pillars for the mass adoption of cryptocurrencies — have seen a drastic reduction this year. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines.Since 2014, the total number of crypto ATMs has maintained a
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Grid trading is a quantitative trading strategy that involves placing automated buy and sell orders in an attempt to profit from the volatility of cryptocurrencies. Grid trading is a style of algorithmic trading that automates order execution by utilizing grid trading bots. To create a grid of orders that covers a
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Bitcoin’s total hashrate tapped a low of 170 exahash per second (EH/s) on Dec. 25, as reports noted that bitcoin miners in Texas curtailed their hashpower during a massive winter freeze. Statistics show that close to 100 exahash dropped off the network but rebounded from the 170 EH/s low to
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The move will help the state’s grid operator, Electric Reliability Council of Texas (ERCOT), ease worries that the mining will put extra stress during periods of high system demand. “Due to the anticipated interconnection of an increasing number of large flexible Loads in the ERCOT Region, ERCOT is establishing an
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On Nov. 29, 2022, The Electric Reliability Council of Texas (ERCOT) published a report on seasonal assessment and resource adequacy for the ERCOT region. ERCOT’s study indicates that bitcoin mining operations are flexible operations that can be beneficial to the Texas grid during the upcoming winter and extreme peak load
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Although Bitcoin (BTC) mining remains a controversial topic, it’s becoming more common to hear how Bitcoin mining can help balance grid demand. This is being demonstrated in the state of Texas, as Bitcoin miners are able to participate in demand response programs, which incentivize miners to turn off their operations
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The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the
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