In June, high temperatures in Texas led to record levels of energy consumption and impacted local bitcoin miners.
On June 9, electricity demand in the state peaked at 75,437 MW, according to the state's main utility ERCOT.
Many Texas-based miners have entered into agreements with the provider to cut off power during periods of peak demand.
BitDeer said that although the temperatures were abnormal during the week, the company is responding as usual with the increase in energy consumption. When tariffs become too high, the firm restricts operations. BitDeer responds to signals from retail electricity suppliers, ERCOT traders, and energy advisors.
“We scaled back activities on June 7 in the late afternoon and will continue to do so by monitoring grid usage as well as rising temperatures. We turn off the power using automatic software triggers when electricity costs reach certain price levels,” explained BitDeer.
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In May, Argo Blockchain reduced bitcoin production by more than 25%, and the company cited weather conditions in Texas as one of the reasons.“High temperatures cost us probably around 5 BTC. We voluntarily cut consumption a couple of times. Energy prices have risen and we have brought capacity back to the grid,” commented Argo CEO Peter Wall.
Earlier, Riot Blockchain announced a possible suspension of work.
“Up to five days of 38ºC are predicted this week. We will turn off the electricity and the energy we do not use will go into the grid to support a couple of 300,000 households in the community nearby. We know, we prepare and we check everything,” said the commercial director of the firm, Chad Harris, at the Whinestone facility.
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In February, bitcoin farms in Texas were shut down due to a severe snowstorm.
In July 2021, the US took the lead in the hashrate share of the first cryptocurrency and continues to dominate. Texas accounts for about 11% of the country's total, according to the CCAF.