• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Texas crypto miners shut down their operations as winter storm approaches
Texas crypto miners shut down their operations as winter storm approaches

Texas crypto miners shut down their operations as winter storm approaches

February 4, 2022 by Vignesh Karunanidhi

As a severe winter storm looms on Texas, crypto miners are turning down operations to help lessen the pressure on the state’s already troubled electrical infrastructure.

One of the biggest publicly listed crypto mining businesses in America, Riot Blockchain, began turning down electricity to its Rockdale mine on Tuesday.

“As the storm has persisted, we have continued to cut our power use by 98 percent to 99 percent . So today, we are just consuming 1 percent to 2 percent of power.”

Trystine Payfer, Riot’s head of communications.

Payfer told CNBC Riot will continue to regulate its power use as needed until there is “no significant stress on the ERCOT grid.”

Crypto miners join hands to help Texas

Several other crypto miners across Texas have followed suit in voluntarily limiting energy use in the run-up to the cold blast.

The CEO of Rhodium Enterprises, a fully integrated bitcoin miner employing liquid-cooled infrastructure, tweeted that Texas-based bitcoin miners were reducing their load starting Wednesday to “help offer surplus power reserves” for the storm.

“We are happy to assist stabilize the grid and help our fellow Texans remain warm,” wrote Rhodium CEO Nathan Nichols.

Texas based Bitcoin miners are curtailing their load starting TODAY to help provide excess power reserves for #WinterStormLandon. We are proud to help stabilize the grid and help our fellow Texans stay warm. 🤝#Bitcoin@txblockchain1

— Nathan Nichols (@Nathannichols) February 2, 2022

Other crypto miners stated they would respond in real-time to the requirements of the grid. The grid is named ERCOT, short for the Electric Reliability Council of Texas, the body entrusted with running it. To work successfully, ERCOT requires a perfect balance between supply and demand.

Texas Governor Greg Abbott recently requested locally-based Bitcoin miners to assist the state get through winter by shutting off their workstations.

Reports have surfaced saying Abbott made the request at a meeting last October with leaders from Texas’ expanding Bitcoin mining community.

How Texas is coping with the winter storm?

In brief, Texas officials have developed several initiatives to preserve electricity energy for coping with the oncoming rainstorm. The essential components of those systems include incentives to significant power users crypto miners for restricting their activities during the most significant power demand hours.

According to Payfer, Riot and other miners may reap various benefits by helping ERCOT simplify power grid operations during storms. The rewards might include participation in the load management programs or any other service and fixed lower power prices agreements for an extended period.

Filed Under: News, World Tagged With: Crypto Mining, texas, winter storm

Primary Sidebar

Recent Posts

  • JPMorgan Begins Utilizing Blockchain for Collateral Settlements May 27, 2022
  • MetaMask Joins Hands With Asset Reality to Assist in Recovering Stolen Crypto May 27, 2022
  • Bitcoin knowledge, the biggest flex May 27, 2022
  • Fakesters use LUNA 2.0 airdrops to target users May 27, 2022
  • Tether-ing in Mexico May 27, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.