Chron,

While ERCOT begged Texans to conserve power, the state paid $31 million to Riot, a bitcoin miner, to cut its energy use, leading to record profits for the company.

https://www.chron.com/news/houston-texas/article/texas-bitcoin-riot-ercot-grid-energy-18352398.php

ZhiZhu,
@ZhiZhu@newsie.social avatar

"ERCOT's massive Riot payouts came as the agency asked to reduce power use during peak demand periods multiple times during the same month...

mining now accounts for a huge chunk of ' energy consumption: estimated in 2022 that bitcoin projects accounted for 33 gigawatts (GW) of energy in its interconnection queue. All households combined use an estimated 6 GW per year by comparison."
~@Chron
https://www.chron.com/news/houston-texas/article/texas-bitcoin-riot-ercot-grid-energy-18352398.php

This is

ChuckMcManis,
@ChuckMcManis@chaos.social avatar

@Chron "What's your business plan?" "I'm going to connect a big ass resistor to ground and wait for someone to offer to pay me to disconnect it"

kiki_mwai_mwai,
@kiki_mwai_mwai@mastodon.social avatar

@Chron I think we need to create a non sense competition at that point

Creditease,
tallawk,
@tallawk@mastodon.world avatar

@Chron "Now that we're set up, it'd be a real shame if our operation dragged your grid to the ground and killed little old ladies during this not-climate-catastrophe heat wave. For the right price, I'm sure you could avoid being blamed for killing grandma."

Cotopaxi,
@Cotopaxi@mstdn.social avatar

@Chron Vote the GOP out, y'all. Please. 🌊🌊🌊

Basic_Bench,

@Chron

Bitcoin Welfare. How is fucking texas a real place.

Woodchaz,

@Chron
There ought to be a better way to launder money. People will always find ways. Crypto is a direct result of taking cash digital.

jmjm,
@jmjm@mstdn.social avatar

@Chron but just think of the cost to society if Bitcoin miners stopped enabling child porn and ransomware for a day.

AutisticMumTo3,
@AutisticMumTo3@leftist.network avatar

@Chron
Large scale bit coin miners should be required to have their own electricity generation, such as solar or wind,b so they don't affect the power supply for the rest of us but even with that Texas' grid is in desperate need of upgrading.

caseyjonesed,
@caseyjonesed@awscommunity.social avatar

@Chron WTF!!!

bubbajet,
@bubbajet@mastodon.world avatar

@Chron Infuriating stuff.

kierkegaank,
@kierkegaank@mastodon.sdf.org avatar

@Chron i want to get tens of millions from the state to refrain from producing nothing

pseudoscience,

@Chron thanks, I hate it

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