Comment on Texas power prices briefly soar 1,600% as a spring heat wave is expected to drive record demand for energy

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Voroxpete@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

Fun fact, in case you weren’t aware; Texas pays bitcoin mining companies to shut off their rigs during peak demand.

Miners love this; in effect they can just threaten to mine bitcoin and get paid as much as they would have made actually mining bitcoin, but without the wear and tear on their expensive hardware. It’s a legalized extortion racket being enacted on the public purse.

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