Bitcoin Miners Hit Pause In Texas As Energy Crisis Stalls Operations
Portfolio Pulse from Murtuza Merchant
Bitcoin miners in Texas, including Riot Platforms Inc. (NASDAQ:RIOT) and Marathon Digital Holdings Inc. (NASDAQ:MARA), are temporarily halting operations due to the state's ongoing energy crisis. The situation has been worsened by recent extreme weather events, leading to the Biden administration declaring a power emergency. The miners have faced similar challenges in the past due to fluctuating Bitcoin prices, rising electricity costs, and increased competition.
September 08, 2023 | 8:37 pm
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Marathon Digital Holdings Inc. has temporarily halted its Bitcoin mining operations in Texas due to the ongoing energy crisis.
The ongoing energy crisis in Texas has forced Marathon Digital Holdings Inc. to temporarily halt its Bitcoin mining operations. This could negatively impact the company's production and revenues in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Riot Platforms Inc. has temporarily halted its Bitcoin mining operations in Texas due to the ongoing energy crisis.
The ongoing energy crisis in Texas has forced Riot Platforms Inc. to temporarily halt its Bitcoin mining operations. This could negatively impact the company's production and revenues in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100