By Hill Country Chronicle |
Sep 9, 2023
Texas has paid $31 million to cryptocurrency mining company Riot in an effort to reduce energy consumption during a heatwave. Riot was able to achieve record profits by cutting back on power usage at its facilities in Texas and earning energy credits from the state. This move highlights the increasing importance of energy efficiency in the cryptocurrency mining industry, which has been attracted to Texas due to its inexpensive electricity and favorable regulatory environment.