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Bitcoin mining has raised Texas electricity prices 5%

Posted on AllSides April 11th, 2023
From The Center
Maxim Shemetov (Reuters)

Industrial-scale bitcoin mining facilities in the US create as much carbon pollution as 3.5 million gas-powered cars, and Texas, which boasts the largest number of mining facilities in the country, will see the cost of electricity rise nearly 5% by mid-2023 due to cryptocurrency mining.

Those stunning figures come from analyses by tech nonprofit WattTime and energy consultancy Wood Mackenzie for a New York Times investigation into the rise of large-scale bitcoin mining in the US.

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