So it turns out that Texas bitcoin miners like Riot and Argo have stopped mining to save energy during this crazy heat wave. They're trying to help the power grid since demand is through the roof. Over 1,000 megawatts were switched off, according to the Texas Blockchain Council.
Your math is decent, but just because there’s 1000 MW doesn’t mean it’s all high-efficiency S19s running at full blast. Some units might be overclocked or just not efficient, so I’d say lower estimates might be closer to 20 EH.
Fun fact: if we take 1GW offline, that’s a massive loss of revenue about $864k a day for the electricity providers. But it’s just reshuffling numbers for ERCOT.
Yeah, the 1000 MW thing is all over the place. Some are saying 30 EH, but I’m not sold on that. Could be more like 15 EH at best. Anyway, the network difficulty is dropping.
It’s crazy how many miners are shutting down old rigs now that summer is here. I’ve switched everything off too because running my A/C just isn’t worth it. Better to save it for later.
Agreed, but why would you want more active cooling in a data center? That just raises costs. I’ve seen bitcoin mines designed basically outside, so there are alternatives.
In a proper data center, you want security, redundant systems, and controlled cooling. When building a mining farm, you can just convert a warehouse and use massive fans.
You'd be surprised. Texas actually pays miners not to mine when the grid is under pressure. It’s like the classic privatizing profits while socializing losses. Each resident is basically funding this!
True, but it doesn’t cost regular customers anything. When miners are running, they pay ERCOT more than they get back during downtime. Just helps everyone grow the capacity.