Bitcoin mining company Riot Platforms is defending its participation in Texas’ electricity market programs after recent headlines claimed the state ‘paid’ the miner over $ 30 million to reduce power in August. Riot Platforms Sets the Record Straight In a statement released Friday, the Nasdaq-listed Riot asserted it earned just $ 7 …
Bitcoin mining aided the Electric Reliability Council of Texas, or ERCOT, when the bitcoin mining company Riot Platforms reduced its power usage amid a Texas summer heatwave. Riot said in its most recent production and operations update that it received $ 31.7 million in power and demand response credits for August. Bitcoin Mining’s …