Chairman of the Texas Blockchain Council: Bitcoin production dropped by more than 90% this week due to power crisis

On September 8th, Lee Bratcher, the chairman of the Texas Blockchain Committee in the United States, stated that due to the power crisis, Bitcoin mining production has decreased by more than 90% this week. Previously, the Biden administration announced on Thursday that Texas had entered a state of emergency for electricity. In this situation, all large-scale Bitcoin mining companies have shut down their mining machines and stopped operations.

Comments

All Comments

Recommended for you

CointimeSG ·

Inauguration

President-elect Donald Trump is scheduled to be inaugurated on Monday, January 20, 2025. I discussed the impact of the election in a blog on Coindesk, where I predicted that “Positive tailwinds in crypto caused by the election itself may not be as sticky in a month. However, the ramifications of a unified Republican House and Senate majority may mean a more productive government, and one that passes more legislation surrounding crypto.”
CointimeSG ·

Understanding E Money Network: A Comprehensive Overview

E Money Network is a Proof-Of-Stake (PoS) blockchain designed to facilitate tokenization of Real World Assets (RWAs) by integrating Know Your Customer (KYC) and Anti-Money Laundering (AML) processes directly onchain, aiming to bridge the gap between traditional finance and the Web3 space.
CointimeSG ·

THORChain Q4 2024 Brief

THORChain (RUNE) is a Layer-1 network designed to facilitate cross-chain DEX swaps without the need for wrapped assets. The blockchain is developed on the Cosmos SDK and utilizes BFT Tendermint consensus engine. Native assets are managed directly in onchain vaults and funds are secured by node’s bonding or staking RUNE.
CointimeSG ·

Sen. Cynthia Lummis Accuses FDIC of Crypto Oversight Misconduct, Demands Accountability

Lummis cited whistleblower claims the FDIC destroyed documents and silenced staff during a crypto oversight probe, sparking industry outrage.
CointimeSG ·

NEXT BASKET Announces NEBA Token, Powering its Web3 E-commerce Ecosystem

End customers of online stores receive bonuses in NEBA Tokens for every purchase
CointimeSG ·

EU’s new ‘DORA’ rules come into effect: What does it mean for crypto?

Europe’s Digital Operational Resilience Act now applies to crypto businesses, expanding MiCA’s scope and requiring firms to enhance cybersecurity and risk management.
CointimeSG ·

Crypto Exchange WazirX Freezes $3 Million Stolen in Hack

The seizure comes as WazirX undergoes "restructuring proceedings" and works to "trace and retrieve stolen assets," the exchange told Decrypt.
CointimeSG ·

XRP options data suggests bullish sentiment says Nansen analyst, as market cap nears $200 billion

XRP derivatives activity is surging, with a rising interest in call options implying a bullish sentiment.
CointimeSG ·

Coinbase’s Bitcoin-Backed Loans for USDC Draws Mixed Reactions

Coinbase has introduced Bitcoin-backed loans, allowing users to borrow USDC stablecoin without selling their Bitcoin holdings.
CointimeSG ·

Crypto Developer Michael Lewellen Sues DOJ For Regulatory Overreach

Lewellen’s lawsuit claims the DOJ criminalizes non-custodial crypto tools, violating the First and Fifth Amendments and federal law guidance.