‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

Amid many cryptocurrency mining firms in Texas scaling down operations to reduce the load on the power grid, at least one company set up miners not quite as affected by the state’s energy requirements during extreme heat. In June, White Rock Management expanded its crypto mining operations to Texas — its first in the United States — but reported its facility in the Brazos Valley region would mine Bitcoin (BTC) using “environmentally responsible” methods. While the firm’s mining operations in Sweden used hydroelectric power, White Rock CEO Andy Long told…

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Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts

Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC) in July even as the company powered down several times in response to demand on the Texas power grid. In a Friday announcement, Core Scientific said its month-over-month Bitcoin production had increased from 1,106 in June to 1,221 in July — roughly 10.4%. The firm reported curtailing operations “due to extreme temperatures at multiple data centers,” but also increased the number of its self-mining servers and hashrate by 6%, to 109,000 and 10.9 exahashes per second (EH/s), respectively. JULY 2022…

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Riot Blockchain’s Bitcoin mining productivity dropped 28% YOY amid record Texas heat

Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility. In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating in July 2021. According to Riot CEO Jason Les, the firm curtailed operations by 11,717 megawatt-hours in July in response to increasing demand on Texas’ energy grid. Many parts of the Lone Star State experienced several days with temperatures…

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Crypto miners in Texas shut down operations as state experiences extreme heat wave

With many parts of Texas enduring days of temperatures well over 100 degrees Fahrenheit in July, many crypto miners have shuttered operations in anticipation of the state’s energy grid being unable to meet demand. The Electric Reliability Council of Texas, or ERCOT, on Sunday called on Texas residents and businesses to conserve electricity with “record high electric demand” expected on Monday. According to ERCOT’s forecast, demand for electricity in Texas — due in part from running air conditioners amid extreme heat — could surpass the available supply. The energy supplier’s prediction…

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Switzerland-based crypto mining firm expands operations to Texas

White Rock Management, a cryptocurrency mining company based in Switzerland, said it will be expanding its operations to the United States, starting with Texas. In a Tuesday announcement, White Rock said it will be partnering with Natural Gas Onsite Neutralization, or NGON, a company that captures natural gas that would otherwise be burned and converts it to energy for use in the firm’s Bitcoin (BTC) mining operations. White Rock said it will be operating out of NGON’s facility in the Brazos Valley region, mining BTC using “environmentally responsible” methods. According…

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Texas securities regulator investigates Celsius over withdrawal suspension: Report

The Texas State Securities Board has reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals. According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda said the regulator began investigating Celsius on Monday shortly after the platform announced it would be “pausing all withdrawals, swaps and transfers between accounts.” Rotunda reportedly called the investigation a “priority” for the Texas regulator. “I am very concerned that clients — including many retail investors — may need to…

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Argo Blockchain facility in West Texas expects to start mining Bitcoin in May

Crypto mining company Argo Blockchain’s plans to open a data center in West Texas are likely nearing completion following an inauguration ceremony. In a Thursday announcement on Twitter, Argo said it expects to begin mining operations at its Helios facility in Dickens County, Texas starting next week. The announcement came more than a year after the mining firm purchased a 320-acre land plot to construct the facility, first breaking ground on the 200-megawatt data center in July 2021. We are thrilled to announce the energization and opening of Helios, our…

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Texas regulators order virtual casino to stop selling NFTs

A virtual, Cyprus-registered casino Sand Vegas Casino Club faced an emergency cease and desist order from Texas and Alabama state securities regulators. The company is ordered to “stop a fraudulent investment scheme tied to metaverses”.  On April 13, the Texas State Securities Board reported issuing the order, accusing Sand Vegas Casino Club, Martin Schwarzberger and Finn Ruben Warnke of illegally offering nonfungible tokens (NFTs) to fund the development of virtual casinos in metaverses. Allegedly, Sand Vegas offered 11,111 NFTs to raise funds for its metaverse casinos. The firm offered those…

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NFT project blankets Texas capital city in pro-crypto billboards

The founder of a website guiding readers through the digital asset market started a campaign in Austin to increase awareness of Bitcoin and other cryptocurrencies.  Speaking to Cointelegraph, marketcap.guide founder Sam Feldman said he had deployed more than 100 billboards around the Texas capital city since July, each sharing a different message on Bitcoin (BTC), nonfungible tokens, and other aspects of the crypto space. Though the ads are aimed at encouraging adoption, funding for many of them came from tokenizing drone photos of the billboards and selling the resultant NFT.…

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