Bitcoin Miners Cut Production To Avoid Texas Peak Power Costs
Summary
Bitcoin mining firms experienced reduced production in June due to power curtailment in Texas. Riot Platforms produced 450 BTC, a 12% decrease from May, and emphasized its participation in demand response programs to enhance grid stability. Cipher Mining reported 160 BTC production, selling 58 BTC, attributing lower output to a proactive curtailment strategy to avoid penalties. MARA Holdings saw a 25% drop in production, mining 211 BTC, citing weather-related curtailment and equipment issues. In contrast, CleanSpark increased production by 6.7%, producing 445 BTC and holding 6,591 BTC at month-end. Overall, the ERCOT's 4CP program influenced operational strategies among miners.
