Bitcoin miners have halted their operations in Texas due to peak electricity demand from the heatwave, Bloomberg reported.

On July 10, the state’s main grid operator, ERCOT, urged residents and businesses to save electricity. According to the provider’s forecast, daytime demand may exceed production volumes.

“More than 1,000 MW of bitcoin mining loads responded to ERCOT’s demand for savings by shutting down its devices. This represents almost the entire mining industry in the state, allowing you to bring back more than 1% of the total network capacity,” said Lee Bratcher, president of the Texas Blockchain Association.

Core Scientific has confirmed that they have disabled all ASIC miners located in Texas. The company explained that we are talking about less than 15% of the total mining capacity.

“We are reducing capacity in challenging situations, including the current heatwave in Texas, and will continue to do so as needed,” said CEO Mike Levitt.

Core Scientific operates in six states, he said.

A Riot Blockchain spokesperson told Cointelegraph that the company-owned Whinstone data center in Rockdale has reduced power consumption at ERCOT’s request.

Argo Blockchain CEO Peter Wall also confirmed to the publication that the firm is suspending its operations in the state. The Helios facility is located in Dickens County.

Marathon Digital Holdings noted that bitcoin miners help the government modulate power demand and stabilize the grid, as they can shut down and restart power in “minutes”, unlike other businesses.

As of June 11, the Bitcoin hash rate has dropped to 199 EH/s after hitting 231 EH/s a month ago (Glassnode’s 7-day moving average has recovered).

Recall that in June, the total revenue of the first cryptocurrency miners decreased by 26% to $ 668 million. The indicator has been falling rapidly since March.

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