Tag: bitcoin mining

‘Financial Colonialism’: A Bitcoin Mine in Navajo Nation Flares Tensions

Just outside of Shiprock, New Mexico, on land belonging to the Navajo Nation, a Bitcoin mine owned and operated by a Canadian investment company consumes seven megawatts of power each month—enough to power 19,600 homes.  The operation is run by a firm called WestBlock Capital and mines between 23 and 25 bitcoins per month, equivalent […]

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Ted Cruz Says Bitcoin Mining Can Fix Texas’ Crumbling Electric Grid

Texas’ energy grid has problems. Those issues were laid bare this past winter when a storm put the state in a deep freeze, causing blackouts for millions and killing hundreds of people. Sen. Ted Cruz told a cryptocurrency conference in Austin last week that he believes the state’s Bitcoin mining boom could repair its floundering […]

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