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Texas Crypto Miners Shut Down Operations As Winter Storm Approaches

Texas Crypto Miners Shuttering Operations as Winter Storm Approaches

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A number of crypto miners in Texas are already shutting down some or all their operations, as the region awaits an Arctic blast that is likely to test the state’s power grid this week.

The miners, many of whom flocked to the state in recent months to take advantage of Texas’s low energy costs, say that they will reduce their energy consumption to help avoid a power failure similar to the one Texas experienced in 2021. That outage left about 4.5 million homes and businesses without power and led to nearly $200 billion in property damage.

These efforts will dovetail with those of the Electric Reliability Council of Texas (ERCOT), which operates the Texas grid and said on Wednesday that it would use “all tools to manage the grid.” Some of the miners will also be taking advantage of state incentives to ratchet back their power usage.

Riot Blockchain, one of the biggest North American miners, has already reduced its energy usage at its Whinstone facility in Rockdale by 98-99%, Trystine Payfer, Riot’s director of communications, told CoinDesk. “We will continue to do so as needed until there is no extreme stress on the ERCOT grid,” she added.

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Compute North, which hosts bitcoin miners in their data centers, told CoinDesk that it is also closely eyeing the storm. “We are prepared to respond real-time to curtail our operations in order to support ERCOT, grid stability and power demand,” Compute North Director of Energy Peter Liska said.

Nathan Nichols, the co-founder and CEO of Texas-based miner Rhodium tweeted that miners in the state were “curtailing their load starting TODAY to help provide excess power reserves for #WinterStormLandon.

To be sure, Texas, there are programs available for heavy power consumers such as crypto miners, to incentivize them to lower their energy usage during peak demand periods. For example, in exchange for helping ERCOT stabilize the grid, Riot gets to participate in load management programs and other services, including some long-term lower, fixed-pricing agreements, Payfer said.

Compute North’s Liska said that demand response programs, which allow customers to reduce their electricity usage when energy prices are high, are one way for the company to balance power generation and consumption during peak demand .

“Rather than incremental energy production, we reduce our load giving power back to the grid, which is more cost effective and efficient than spinning up additional energy reserves,” Liska added.

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Algorand Has Appointed JPMorgan high-flyer Staci Warden As Its New CEO.

Algorand appoints new CEO Staci Warden

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Warden has been a member of the Algorand Foundation Board since September 2021 following a glittering career with JPMorgan, the Nasdaq stock exchange, and the US Treasury Department.

Algorand is actively targeting ecosystem growth in niches such as global crypto payment platforms, DeFi and NFTs. It is hoped Warden’s appointment will catalyse this expansion.

Speaking on the ALGO appointment, Staci Warden highlighted opportunities in the developing world alongside a commitment to the future of DeFi.

“I am excited to build on everything the Foundation has achieved to date, and will be focused on scaling our commitment to our community and our global partners,” she said.

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“1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralisation to address the problem of global financial inclusion at scale.

“By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports.”


The appointment of a new CEO marks an end to the leadership of outgoing Algorand CEO Sean Lee.

Lee served as CEO of the blockchain for 18 months and played a pivotal role in cementing Algorand’s market position throughout the sensational explosion in crypto markets in 2021.

During his time at the helm of Algorand, Lee prioritised community governance and sewed the seeds for the future of the ALGO ecosystem through the Accelerated Vesting program and launch of Viridis and Aeneas DeFi funding programs.

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Commenting on his departure, Lee revealed he will be moving on to other projects in the crypto industry.

“I’ve decided to leave the Algorand Foundation to pursue new opportunities in the blockchain space,” said Lee.

“Seeing the transformative potential of the applications being built on Algorand, now is the time for me to explore those avenues.

“I have deep confidence in Staci’s ability to lead the Algorand Foundation and the Algorand ecosystem through its next growth phase.”

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Manchester United selects Tezos as official blockchain partner

Manchester United selects Tezos as official blockchain partner

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Manchester United has today announced a landmark multi-year partnership that will see Tezos featured on the Club’s range of men’s and women’s training kits.

Tezos-branded training kit will be worn by the first team squad prior to this weekend’s match against Southampton, introducing Manchester United fans to the partnership and Web3 technology through the Tezos blockchain.

Victoria Timpson, Manchester United’s CEO of Alliances and Partnerships, said it was an exciting partnership for Manchester United “because it aligns us with one of the most advanced, reliable and sustainable blockchains in an area of technology which promises to truly revolutionise the way that everyone, including the club and our fans, can interact”.

“We are especially pleased to be partnering with one of the most eco-friendly blockchains, using technology that is energy-efficient, limits carbon emissions and lowers costs, consistent with the Club’s wider efforts to promote environmental sustainability,” she said.

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“Partnerships are at the core of our strength as a club, supporting the drive for success on the pitch, and we are delighted to welcome Tezos as the latest industry leader to join our family of partners.”

Edward Adlard, Head of Adoption and Business Development, Tezos Ecosystem added that, throughout its history, Manchester United had constantly evolved, with the support of its global community of fans and partners.

“Tezos will enable Manchester United to use blockchain and Web3 to transform fan, player, team, and partner engagement,” he said.

“The decision by the world’s greatest football club to select Tezos as its blockchain of choice is further validation that thoughtful design paired with strong security, low gas fees, and community-led innovation are the essential factors driving the next wave of adoption in the new digital revolution.”

In addition to the Tezos branding on the club’s training kit, the partnership will also include several new fan experiences built on the Tezos blockchain and a pledge to support Manchester United Foundation with ongoing donations in TEZ – the native currency of the Tezos blockchain – to train, educate and inspire young people within the local community.

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Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem

Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem

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In an attempt to enter the metaverse in 2022, the meme coin Shiba Inu has unfurled its virtual real estate ‘Shiba Lands’. The new realm of real estate will be available for public auction or purchase soon.

In this new venture, SHIB token holders can own a part of the Shiberse metaverse. Meanwhile, the meme coin has yet to confirm the advantages of owning the lands in its metaverse. So far, the project said that people owning land in Shiba Real Estate would gain a lot of benefits.

As tweeted by Watcher Guru, a media covering crypto news, Shiba Inu will declare the purchase period of virtual real estate soon.


To prevent high gas fees, which happened in the Shiboshi NFT launch 2021, the Shiberse ecosystem will create a queue system for its land release. The queue system can process the sale more smoothly and in a much fair manner for customers.

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LEASH coin holders will get priority access to the queue in the first period of land release. Afterward, the queue will be open to the public.

Shiba Inu has stated in its blog ShibaSwap:

This queue allows exclusivity by requiring interested parties to hold “$LEASH“, which gives priority and exclusive access to this first selling phase of the land plots in our Metaverse. In addition to the queue, we also have worked on an anti-dump system in order to protect $LEASH holders. The remaining lands will then unlock, and become available for the public after this exclusive selling process finalizes.

To highlight, the Shiba Land properties will initially be auctioned. Here, users can bid their land and location soon after the project announces the date of auction.

Earlier, virtual platforms like Decentraland, Gala Games, Sandbox, and Axie Infinity had fixed their position in the metaverse. Now, Shiberse has marked its growth in the metaverse which plows for more competition among other meta platforms.

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Despite being the latest entry to the metaverse, Shiba Inu has gained wide attention from investors who believe in its developing potential.

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