News headline: Texas paid $31 million to bitcoin miner to cut energy use during heat wave: The bitcoin miner Riot said it raked in the record profits by reducing power use at its Texas facilities to earn energy credits from the state. By Michael Murney Updated Sep 7, 2023 10:15 a.m.

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   Zhi Zhu 🕸️ (zhizhu@newsie.social)'s status on Saturday, 07-Oct-2023 12:37:02 JST Zhi Zhu 🕸️

   in reply to

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

   #Bitcoin mining now accounts for a huge chunk of #Texas' energy consumption: #ERCOT estimated in 2022 that bitcoin projects accounted for 33 gigawatts (GW) of energy in its interconnection queue. All #Houston 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 #Insane

   #USA #News