China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas
June 18, 2021
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China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas
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View Reddit by lotsofsweat – View Source
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.
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32 Comments
That’s it. The Texas power grid is toast.
Great, now they’ll blame Asians for taking down the grid
Holy shit right in time for their governor to blame them for summer power outtages. Man that one guy called the fuck out of that in that epic post shitting on Texas.
Enjoy that new, less stable power grid, Texas!
A light rain storm in Austin can shut down the power for 12 hours. Happened just couple of weeks ago. Good luck trying to run stable operations when the power grid is a shit show. Also better hope your housing doesn’t flood when it rains.
Joke’s on them… Texas cant supply the power… ironic right? ;D
Texas claims to be all about bitcoin. I wander if they WANT a grid collapse so they can really smear crypto
Makes no fucking sense, energy is cheaper in Iceland and cooling wouldn’t be an issue.
It’s ironic that the power grid and those disenfranchised by the digital divide tremble under the weight of the prosperous tech giants.
This feels like a planted story. Its trying to connect the Chinese Bitcoin story and the Texas power factoids together based on some other guy who really is just spouting off facts off about how cheap Texas is without provision context of why AN INCREDIBLY ENERGY INTENSIVE PROJECT WOULD CHOOSE A PLACE THAT IS ALREADY DEALING WITH POWER OUTAGES
Am I taking crazy pills? How are we taking about people flocking to Texas as if they haven’t shit the bed twice with just a few months and aren’t anticipated to get far worse? Clearly the Chinese miners are going to Kazakhstan and are figuring out next steps there, and the attempt to tack on Texas is just. .I’m not even sure what the intent of that was. But it feels like a very lazy attempt to paperclip 2 unrelated things
Don’t believe his lies
Texas has turned to shit in the last 5 years. Coming to a city near you.
I’ll believe it when i see it, i line in the UK and know the Texas power grid is rubbish, it’s the last place anyone would choose to go for bitcoin mining.
They have been kicking miners for the last 5years. I call bullshit on this story. Going to Texas would be stupid. Setup in a place you don’t need ac and near a hydroplant.
What a stupid title. People will mine when it is profitable to mine. Nothing more.
Wouldn’t they want to somewhere with at least slightly reliable power?
The people of Texas need to stand up together to get these Jack-wagons fire lit. It is not just Texas that has fall out. The rest of the tax payers of this country are paying “emergency funding” to get the state back on track. All because Texas leadership refuses to go onto a ” national” power grids that can accommodate extreme weather. Make your leadership accountable for what they are constantly subjecting you to. It’s only getting worse.
I’ve heard the Texas power grid is so strong, I’m sure this will barely impact it.
That makes all the sense in the world. Send an energy intensive business to place with shitty power supplies, genius!
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…because the power grid there is so reliable.
Ahhhhahahaha! That would be awesome. Texans are known worldwide as being the most hospitable to people different than themselves. Texas’s power grid is top notch too. They’ll hopefully have all those unreliable wind turbines taken down any day now and replace them with all natural burning coal and, God willing, whale oil. Then they’ll have all the naturally produced electricity those fun new foreign people could ever dream of needing for their little computer games.
Perfect. Texas has very few regulations, and it would be against everything they claim to stand for to start creating new regulations now. Those bitcoin miners are going to exploit the shit of that.
*grabs popcorn*
Ooo, Texans are not going to like that
Love how immigration laws are just completely ignored. Like the US is just going to let all these Chinese come in without batting an eye.
Ah yes Texas … the reliable power grid they truly needed.
Good luck with the power grid there.
Why though?
‘Dude, you know that state in the US where it’s really hot and the power grid sucks and often can’t handle the demand? Yeah, that’s where we should move our Bitcoin mining operation!’
No they’re not. The cost of travel and rent alone, never mind not being able to get a work visa or green card, is too prohibited.
as a Texan, jokes on them, they are going to lose power all the time and lose money ha
“We’re gonna build a wall. It’ll be a great wall. The greatest wall. And China’s gonna pay for it.” — Unknown
I Came here make a snarky comment about Texas’ shitty power-grid… but ya’ll are on it.
…Carry-on, Reddit.
Ahh yes.. Texas is a crypto miner’s dream /s. Hot and humid as fuck. Dealing with Ercot which has trouble keeping the power on as it is. Immensely high warehouse costs due to most of Texas’ funding coming from property taxes. These ops are probably headed to Venezuela, where everything is dirt cheap and power is practically free.