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In reply to the discussion: Texas Calls for Power Conservation After Six Generators Fail [View all]modrepub
(3,495 posts)Bit-mine folks have been buying up small waste coal generators to run their computer banks. They also have been buying large generators and hooking them up to gas wells to generate electricity for their computers. You can earn bitcoin by solving difficult algorithms via computers.
When natural gas was expensive back in the 2000s I remember reading how one large natural gas fired power plant shut down, sold all of its gas contracts, bought electricity on the spot market (to cover its electric contracts) and still made a handsome profit.
Market forces can do weird things. In the age of low interest rates, all assets generally become inflated. Bitcoin is thought to be one of those hyper inflated assets (though the blockchain tech probably does have some value). The recent collapse of crypto currencies is probably a direct result of rising interest rates.