Bitcoin mining raised Texas electricity prices by 5%

Industrial-scale bitcoin mining facilities in the US create as much carbon pollution as 3.5 million gas-powered cars, and Texas, which boasts the largest number of mining facilities in the country, will see the cost of electricity rise nearly 5% by mid-2023 due to cryptocurrency mining. Those stunning figures come from analyses by tech nonprofit WattTime and energy consultancy Wood Mackenzie for a New York Times investigation into the rise of large-scale bitcoin mining in the US. Advertisement Bitcoin miners operate large arrays of computers that are paid fees to solve the cryptological problems that allow the currency to maintain a…