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Riot Blockchain Made $9.5 Million In Credits By Shutting Down Bitcoin Mining Amidst Texas Heat Wave

• Zero Hedge

Riot Blockchain earned a stunning $9.5 million in credits in the month of July - all for just shutting down its mining rigs at its Texas facility while the region faced a historic heat wave and energy was at a premium.

The value of the credit they are going to receive is about that of 439 bitcoin, Bloomberg reported this week. Riot also mined 318 coins during the month, the report says. The credits can be used against the company's power usage in the future.

Riot sports a 750 megawatt facility in Texas and is currently in the midst of building another 1 gigawatt site in the same state. In Texas, almost all bitcoin miners were forced to shut down their rigs as crushing heat hit the state in early July.