Bitcoin mining raises fears of electricity problems in Texas

The United States has once again become the world leader in Bitcoin mining, but not everyone is happy about that.


US overtakes China

The United States overtook China earlier this year as the world’s largest user of Bitcoin mining. Texas, in turn, is now one of the most crypto-friendly states in the United States. But as more and more miners come to Texas, the state faces significant disagreement.

“They are absolutely energy guzzlers”. Michelle Michot Foss, an Energy Studies employee, told a local news outlet in Houston.

“I don’t think we did a bad job in Texas in terms of anticipating growth. I think we missed something in terms of the system’s susceptibility to failures.” Said Foss, speaking of potential power grid failures.

The news follows a period of crypto mining growth in Texas.


Texas is fully committed to Bitcoin mining, but there are caveats

When China saw its BTC mining industry deflate, Texas was in the process of drawing the industry to itself. In March of this year, Argo Blockchain completed the purchase of 320 acres of Texan land to start Bitcoin mining operations.

In April, Riot Blockchain bought another huge Bitcoin mining site in Texas for $650 million. A month later, Chinese mining company BIT Mining Limited announced a $25 million investment in a crypto mining data center in Texas.

Senator Cruz said Bitcoin could tap into the state’s abundant energy resources. This could add fuel to mining immigration.

“Fifty percent of the natural gas used in this country is now used in West Texas. I think that’s a huge opportunity for Bitcoin, because that’s energy that’s just being wasted.” Said the senator.

Despite Cruz’s comments, it is now well understood that mining Bitcoin with non-renewable energy sources such as natural gas is harmful to the environment.

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According to Cambridge University, 61% of the Bitcoin mining network is powered by non-renewable or carbon-intensive energy sources. By current figures, that would mean Bitcoin mining emits the same amount of greenhouse gases as more than 59 billion pounds of coal burned.

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