Silent_Buddha
Legend
According to an article that I saw yesterday on BBC.com "Why China's bitcoin miners are moving to Texas":
I don't know why it's a good thing to compensate bitcoin farms when the power grid has issues. I have not heard of other business that were compensated to stay offline. Were they any?
I don't know why Texas is proud to have bitcoin farms. What do bitcoin farms offer Texas? Other than some construction money, bitcoin farms aren't offering a significant amount of jobs.
It's a good thing they aren't going to California as they have power blackouts and they don't even need a deadly snowstorm to trigger them, just hot summer weather. But where TX power outages were due to deregulation, CA outages are due to regulations that prohibit many forms of power generation and they would rather spend money on social programs than on their electrical grid. You'd think they'd learn, but it's a recurring problem there for the past 10+ years.
So after their push to be carbon neutral for power generation while also shutting down all their Nuclear power stations while also starting to decommission some of their Hydro-electric dams, they are now in a situation where they have to build new carbon emitting gas power stations to replace the cleaner nuclear power stations and decommissioned hydro plants (this problem is made worse by the current drought reducing the effectiveness of the remaining hydro plants).
Good thing most people in CA still won't use electric vehicles or the problems there would be catastrophic.
The 2 most populus states in the US with power issues. But at least TX doesn't have power issues AND expensive power. Although, it'll be interesting to see what happens with all the bitcoin miners going to TX. If I were to guess, new power plants to to provide power to bitcoin miners.
It'd also help if people weren't such weenies. I don't even turn on my air conditioner until the temperature in my house is above 100 degrees Fahrenheit (~37.8 celcius) and then I set it to 85 degrees only for the room I'm in (instead of the entire house like most people).
Am I bitter? Yes, my state helps subsidize the irresponsible power policies in CA by selling electricity to CA which in turns makes MY electricity more expensive. /sigh. So, I don't even live in CA anymore but their policies are still impacting the price I pay for electricity.
Regards,
SB
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