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Crypto Miners Sue to Keep Us in the Dark
Lawyers for Texas cryptocurrency miners will appear in a Waco courtroom today with a request: Please don’t let everyone know how much electricity we use.“Mining” is a misleading term. There’s no drilling into rock involved. Crypto miners dedicate thousands of computers to solving math problems of increasing complexity in order to reap Bitcoin—or some other virtual currency—as their reward. These machines often occupy enormous buildings and draw massive amounts of electricity to operate their processors and keep them from overheating.We don’t know exactly how much power gets used for this purpose, but in January, the federal government announced it would soon begin to require miners to report their energy usage every month. The Texas Blockchain Council, an industry trade association, sued to stop this, arguing…The post Crypto Miners Sue to Keep Us in the Dark appeared first on Texas Monthly.