Bitcoin miners in Texas have moved to shut down operations ahead of what is expected to be a major winter storm across the US state.
Riot Blockchain has begun shutting down its Whinstone facility in the state.
Bitcoin miners in the US state of Texas have begun shutting down mining stations as the state prepares for what is expected to be a harsh and extreme winter storm season, similar to that recorded last February.
To support the state's power grid, Riot Blockchain and other bitcoin miners have launched plans to remain closed for business, the miner said in a statement to Insider.
The initiative will help Texas conserve electricity for homes if the weather proves as extreme as it was a year ago, when the last winter storm left many families without electricity in difficult conditions.
Riot said its Whinstone facility will go offline and remain so as long as the cold weather continues. According to the leading bitcoin miner, operations will resume once the weather in the state improves.
Last year, Riot closed its facility on February 11 and stayed shut down for the next eight days, resuming full operations on February 19.
Over the past year, a growing number of miners have moved to Texas in search of cheap, reliable, and mostly green energy. This was followed by a massive exodus from China after the country's crackdown ended with many miners shutting down their machines.
The publicly traded Riot Blockchain is one of the crypto-centric stocks that fell massively in 2022 after the crypto winter. As of Thursday, the company's stock was up 2.2% on the day and up more than 33% year-to-date.
My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange!
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAIWomplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free!LiteCoinPay -
The #1 FaucetPay earner for LitecoinUpland - Collect Digital Properties & Test Your SkillsLBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!FaucetPay - The #1 Microwallet PlatformFREEBTC - The #1 FaucetPay earner for Satoshi'sFaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily
Comments
Post a Comment