Crypto miners are bracing for a potentially turbulent weekend as much of the U.S. is gripped by freezing weather and power outages due to a powerful winter storm. Neil Galloway, director of mining operations at Compass Mining, tweeted, “As we battle the winter storm, please prepare for some ups and downs this weekend. Our partners and technicians are working in harsh conditions and progress may be slow.” Slowing down, but we’re monitoring the situation through the weekend.”
Galloway added that mining farms in Texas have been offline, “because your mining machines are offline, and people can heat their homes and cook.”
Riot Blockchain said it will shut down its Rockdale mine in Texas due to extreme weather conditions. Core Scientific, which filed for bankruptcy protection earlier this week, said it would participate in multiple brownouts to help stabilize grid conditions, and expects to produce less BTC during this period.