The Real-World Costs of the Digital Race for Bitcoin
It should be illegal or prohibitively expensive to mine.
In Texas, where 10 of the 34 mines are connected to the state’s grid, the increased demand has caused electric bills for power customers to rise nearly 5 percent, or $1.8 billion per year
After accounting for the savings and revenue from each of the strategies, Riot told investors its electricity cost in 2022 was 2.96 cents per kilowatt-hour.By comparison, the average price for other industrial businesses in Texas was 7.2 cents. For residents, it was 13.5 cents.