The post Texas Heat Wave Earns Bitcoin Miner Riot Platforms $31.7m in August! appeared first on Coinpedia Fintech News
Riot Platforms Inc., a major Bitcoin mining company in Texas, reaped the benefits of the recent heat wave that hit the Lone Star State. The company reported earning a record-breaking $31.7 million from power credits during the hot month of August. As Bitcoin mining is an energy-intensive operation, miners usually pre-purchase power to secure lower energy costs. Texas serves as a particularly attractive location for Bitcoin miners due to its deregulated energy market and abundant renewable energy sources.
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