#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Crypto Mining In Texas Spurs Power Strain, Water Waste, And Outrage
HomeNews* Texas is now the leading state for large-scale cryptocurrency mining facilities in the U.S.
Residents have reported a range of problems since the arrival of these mining centers. The Texas electrical grid has struggled to handle spikes in demand caused by mining operations, leading to higher energy prices and even power outages during emergencies. “Texas’ grid is still very fragile. The improvements made so far by the state are inadequate for what’s coming,” said Corsicana resident John Blewitt to the Texas Observer. He added, “[The crypto industry isn’t] interested in investing in alternative energy. They want a lot of energy, a lot of electricity, right now, which means burning fossil fuels. The industry creates an enormous carbon footprint. Climate change is real.”
A local resident observed that a crypto mine continued to consume power while Houston faced outages during Hurricane Beryl. Mining activity can also cause blackouts and add pressure to Texas’s water supply because large amounts of water are needed to keep servers cool. Many residents in drought-prone areas have raised concerns about water usage at these facilities.
Additional problems include high noise levels from mining machinery, with some residents reporting headaches, vertigo, hearing loss, and sleep disturbances. Some say the noise is even louder at night, making it difficult to sleep or concentrate at home.
Despite these complaints, former President Donald Trump and several other politicians have voiced support for the crypto mining industry. In response, local groups like the Texas Coalition Against Cryptomining have formed to oppose new mining developments and file legal challenges. Inside some mining companies, whistleblowers have spoken out about unsafe working conditions. “That place is a death trap. I’m surprised someone has not got killed up there yet,” said electrician Chris Jones, referring to a Riot crypto mining site in Navarro County. “It’s the most dangerous place I ever worked, and I used to work in coal mines.”
Activists continue to push for stricter oversight, citing ongoing risks to residents, the environment, and local resources. For more details, see the original report by the Texas Observer.