Texas Governor Pleads With Crypto Miners to Switch Off Mining

Governor Greg Abbott, who has worked to make Texas a major crypto hub, is concerned that the fresh flood of crypto miners could put the state’s electrical grid under too much strain. Governor Greg Abbott of Texas reportedly pleaded with miners in October 2021 to stop down operations during the United States winter. This is probably an attempt to avoid another catastrophic outage like the one that killed hundreds of people in Texas in February 2021 when the power infrastructure buckled under the strain of intense demand. If these enterprises notice that the grid is failing, they must shut down. According to Bloomberg, two corporations have stated that if the grid is put under too much stress, they will shut down. According to the Texas Blockchain Council, the state is home to seven significant crypto mining companies and more than 20 smaller ones. Despite the cryptocurrency boom, there has been no commitment to developing new power plants. Governor Abbott welcomed the miners believing that the increased demand would prompt power firms to build more facilities. Stakeholders in the crypto business were essential in changing Abbott’s mind. Lee Bratcher, head of the Texas Blockchain Council, has met Abbot multiple times to discuss Bitcoin’s good impact on the grid. Bratcher sees an opportunity in other countries’ restrictions, such as Kazakhstan and China. Unfortunately, Abbot and the industry are confronting a problem. It’s possib...