Bitcoin miners in Texas are making more from ERCOT kickbacks than they are from bitcoin. Just another way Texas ratepayers are left holding the bag for our corrupt power grid management.

https://www.tpr.org/technology-entrepreneurship/2023-09-06/texas-paid-a-bitcoin-miner-more-than-30-million-to-power-down-during-heat-wave

#texas #ercot

Texas paid a bitcoin miner more than $31 million to power down during heat wave

The Electric Reliability Council of Texas paid the bitcoin miner Riot $31.7 million in energy credits in August to not mine bitcoin in order to save energy for the state's power grid.

TPR

@oh_that_courtney IMHO #ASIC-#Mining in general and #Bitcoin  in general should be made illegal!

At best they are a #BiggerFoolsScam and at most organized #EnvoirmentalCrime...
https://www.youtube.com/watch?v=sw6aMxaNmXA

Why Bitcoin Miners Will Never Make Money

Go to https://Public.com/WSM to unlock 5.5% APYDisclosures: This is a paid endorsement for Open to the Public Investing, Inc., member FINRA & SIPC. Thisdoes ...

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@oh_that_courtney
Wow, that's not very cash money (fiscally conservative) of Texas. It's almost like that's always been a bullshit code phrase for "give taxpayer money to the wealthy."

@oh_that_courtney

Once again, Texas is a Fyre Festival.

@oh_that_courtney
" I'm shocked! Shocked to find that gambling is going on in here."
:) :)
Casablanca