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[Yugocean]

Reason
Extreme cold is reducing power grid capacity and increasing demand to return electricity to the grid for other purposes.

Influence
Texas is the highest hashrate region in the world, and 30% of the hashrate has gone offline due to miners suspending mining.

Condition of miners
It is not known whether the miners have been compensated, but already many miners are going bankrupt, so many are unable to continue mining operations.​

 

[Margery]

Essentially, if the area is not suitable for mining, they should simply move to other states where the climate is more optimal and fiscal and regulatory conditions are the same as in Texas, Louisana is probably an option.

But, in fact, cold areas are still more preferable for mining. When mining, a large amount of heat is generated and miners always install additional cooling systems. Mining rigs always have a large number of fans for cooling.

 

[Riberet19]

But, in fact, cold areas are still more preferable for mining. When mining, a large amount of heat is generated and miners always install additional cooling systems. Mining rigs always have a large number of fans for cooling.

Yes, that is true, and I know that mining equipment needs a cold environment so that they do not break down due to the heat generated by the hardware when exerting such computational power, but the problem here of the cold is that it is damaging the electrical network and they want to desaturate it by reducing Bitcoin mining or at least that I understood in the thread, mining will undoubtedly benefit from this but the electricity grid I guess not.

 

[Margery]

Yes, that is true, and I know that mining equipment needs a cold environment so that they do not break down due to the heat generated by the hardware when exerting such computational power, but the problem here of the cold is that it is damaging the electrical network and they want to desaturate it by reducing Bitcoin mining or at least that I understood in the thread, mining will undoubtedly benefit from this but the electricity grid I guess not.

Yes, this is most likely the problem. Mining consumes a lot of electricity. When the weather was normal, everything was fine, and with the onset of cold weather, the load on the networks also increased from the increased consumption of ordinary residents. Therefore, we decided to reduce mining.

 

[Bango]

Yes that's right. That's why I never like mining. Maybe it was profitable in the past, but these days it is not profitable at all. Mining is very difficult and carries its own risks and problems. Overall, I don't think it's a profitable job and it's not worth it sometimes

 

[Margery]

Yes that's right. That's why I never like mining. Maybe it was profitable in the past, but these days it is not profitable at all. Mining is very difficult and carries its own risks and problems. Overall, I don't think it's a profitable job and it's not worth it sometimes

It all depends on the value of the mined coins and your equipment. If electricity is not very expensive, then you can just mine some coins and save them in anticipation of an increase in cost. Even now, when the value of the coins is not so high, people continue to sine.

 

[Bango]

It all depends on the value of the mined coins and your equipment. If electricity is not very expensive, then you can just mine some coins and save them in anticipation of an increase in cost. Even now, when the value of the coins is not so high, people continue to sine.

Yes, it is true that the price of electricity is very important. Right now the economy is bad and electricity is expensive in many countries. It is the same in my country and it is not profitable to mine at all. But there are places where electricity is cheap. In this case, I think it is worth it

 

[Margery]

Yes, it is true that the price of electricity is very important. Right now the economy is bad and electricity is expensive in many countries. It is the same in my country and it is not profitable to mine at all. But there are places where electricity is cheap. In this case, I think it is worth it

That's it. Therefore, I don't play, because I have a rather gambling character. The fact is that I knew about this for a long time, about my character, and I simply decided not to come close to gambling. As they say, to each his own.

 

[Riberet19]

Yes, this is most likely the problem. Mining consumes a lot of electricity. When the weather was normal, everything was fine, and with the onset of cold weather, the load on the networks also increased from the increased consumption of ordinary residents. Therefore, we decided to reduce mining.

Exactly, that's why I meant that probably the best thing these miners could do is look for a state with conditions similar to Texas, I think Louisiana has good regulations and benefits, but this is something that American miners will know very well that they have to do.

 

[Margery]

Exactly, that's why I meant that probably the best thing these miners could do is look for a state with conditions similar to Texas, I think Louisiana has good regulations and benefits, but this is something that American miners will know very well that they have to do.

Yes, it is probably really necessary to look for more loyal states in relation to the miners. Indeed, they know better there what needs to be done in such a situation. We don't know this. We are just discussing this topic.

 

[Margery]

Yes, sometimes declaring bankruptcy can be more profitable than continuing to operate a corporation. In some cases, when a business finds itself in a financial crisis and unable to pay its debts, filing for bankruptcy can help settle the debts and start with a clean slate. This can be helpful for the enterprise to avoid further deterioration of the financial situation and to preserve assets.

 

[Margery]

For example, miners can change their mining based on changes in cryptocurrency prices. If the price of bitcoin is high, miners can increase their mining to make more profit. However, if the price of a cryptocurrency is low, miners may cut their mining to avoid losses.

 

[BaleegNajar]

The extreme cold affecting Texas and its impact on Bitcoin miners is a significant concern. The reduction in power grid capacity and the need to redirect electricity for other essential purposes has forced many miners to shut down. This situation highlights the vulnerability of cryptocurrency mining to external factors, and it's unfortunate that some miners may face financial challenges as a result. It's a reminder of the importance of considering location and infrastructure when engaging in mining operations.

 

[IB DD]

Texas has been the hotbed of Bitcoin mining in the United States. They were rumors that the grid managers had to pay the miners to stay off mining temporarily. I believe in due course, we would see energy efficient mining in future.