Playing [Texas’s] energy market has become more profitable than mining bitcoin (www.economist.com)

submitted 2 months ago by swlabr@awful.systems to c/buttcoin@awful.systems

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On the hottest and coldest days, when demand for electricity peaks and the price rockets, the bitcoin miners either sell power back to providers at a profit or stop mining for a fee, paid by ercot. Doing so has become more lucrative than mining itself. In August of 2023 Riot collected $32m from curtailing mining and just $8.6m from selling bitcoin.

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[-] bitofhope@awful.systems 12 points 2 months ago

Now if we could just make not mining cryptocurrency more profitable than mining cryptocurrency 100% of the time, that would be really good.

this post was submitted on 09 Sep 2024

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