Riot Blockchain, a crypto mining company based in Texas, just told everyone how much it got paid to do absolutely nothing — and it's a hefty sum.to prevent power outages during a massive Texas heat wave. With so many residents needing to consume more electricity to stay cool, rolling blackouts could have occurred if the grid were overloaded.the mining outfit revealed that
the state of Texas paid the company "$9.5 million in power credits as a result of curtailment activity, to be credited against its power invoices." In other words, the Lone Star State paid these folks a small fortune just to do nothing. So basically it's just another day in the Kafkaesque world of blockchain.It's more than a little ridiculous that crypto companies are sucking up Earth's natural resources at such an astonishing rate and then getting paid handsomely, with taxpayer dollars, to temporarily stop.
'Free market' Republicans, manipulating the market (and perceptions) behind the scenes.
Oh wow