Coming to Texas: Riot Blockchain Announces Plans to Move New York Miners to Lone Star State
Moving rigs from New York to Texas was part of Riot's effort to reduce the company's operating expenses by reducing energy costs and eliminating "all third-party hosting charges."
New
Crypto-mining firm Riot Blockchain said it has begun moving rigs from its New York data facility, with the majority destined to end up in central Texas.
In an announcement on Wednesday, Riot said it had moved some of its mining rigs from a facility in Massena, New York, named Coinmint, as part of an effort to reduce operating expenses by reducing energy costs and eliminating “all third-party hosting fees. The company said it plans to “ship the rest of its fleet of S19 miners” from Coinmint at Riot's Whinstone facility in Rockdale, Texas in July.
The move comes as many areas of Texas experience temperatures over 100 degrees Fahrenheit and demand for electricity increases for air conditioners to keep residents cool. Data from the state's main energy provider, the Electric Reliability Council of Texas, or ERCOT, predicts prices for its southern hub — which would include Riot's facility in Rockdale — to peak at $95.94 per MW-hour over the next 24 hours. However, some reports suggest that wind and solar power generation have helped reduce costs amid rising electricity demand.
Texas energy use hits record high in June, historic highs ahead https://t.co/w1r4stQP7U pic.twitter .co.. .
Moving rigs from New York to Texas was part of Riot's effort to reduce the company's operating expenses by reducing energy costs and eliminating "all third-party hosting charges."
New
Crypto-mining firm Riot Blockchain said it has begun moving rigs from its New York data facility, with the majority destined to end up in central Texas.
In an announcement on Wednesday, Riot said it had moved some of its mining rigs from a facility in Massena, New York, named Coinmint, as part of an effort to reduce operating expenses by reducing energy costs and eliminating “all third-party hosting fees. The company said it plans to “ship the rest of its fleet of S19 miners” from Coinmint at Riot's Whinstone facility in Rockdale, Texas in July.
The move comes as many areas of Texas experience temperatures over 100 degrees Fahrenheit and demand for electricity increases for air conditioners to keep residents cool. Data from the state's main energy provider, the Electric Reliability Council of Texas, or ERCOT, predicts prices for its southern hub — which would include Riot's facility in Rockdale — to peak at $95.94 per MW-hour over the next 24 hours. However, some reports suggest that wind and solar power generation have helped reduce costs amid rising electricity demand.
Texas energy use hits record high in June, historic highs ahead https://t.co/w1r4stQP7U pic.twitter .co.. .
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