Grid Alerts Threaten Crypto: How 100-Degree Temps Impacted Bitcoin Mining
The post Grid Alerts Threaten Crypto: How 100-Degree Temps Impacted Bitcoin Mining appeared on BitcoinEthereumNews.com. Key Takeaways On June 30, the Energy Department issued emergency orders to the PJM grid to prevent blackouts. High power prices forced Bitcoin miners to curtail operations, cutting global hashrate. Investors are tracking PJM grid data and hashrate trends ahead of a mid-July heat wave from July 14–19. High Prices Trigger Miner Curtailments A record-setting heat dome that recently blanketed the eastern United States and forced the U.S. Department of Energy to issue emergency orders put the heat on bitcoin miners operating within or drawing power from the regions affected by the directive. The department’s directive authorized the PJM Interconnection to deploy additional generation units and tap backup power resources as needed. The grid operator, which serves approximately 67 million people across 13 states and Washington, D.C., recently issued hot-weather alerts as tri