Bitcoin Miners Went Dark as Texas Power Grid Teetered on Brink
- Moves spurred by elevated prices and incentives to conserve
- Threat of power shortage lingers amid prolonged heat wave
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Bitcoin miners in Texas curbed operations, crimping power usage, as a heat wave drove electricity prices sky-high Tuesday and threatened to cripple the grid in the second-largest US state.
The extent of the intentional shutdown and the amount of power conserved for other uses — such as residential air conditioners, medical centers and municipal water systems — was not yet immediately clear. But the curtailments were confirmed by industry participants and grid manager the Electric Reliability Council of Texas, or Ercot.