00:00It's Benzinga bringing Wall Street to Main Street.
00:03Bitcoin mining operations across the U.S. curtailed activity after an arctic blast drove up
00:08electricity costs and strained power grids, according to Bloomberg. Data from mining pool
00:13stats showed a sharp drop in hash rate tied to reduced output at Foundry USA and Luxor,
00:18which serve U.S.-based miners. Both pools fell by more than 50% over the weekend.
00:25Large miners, including Riot Platforms, reduced operations or sold power
00:29back to the grid through demand response programs, while others shut down machines
00:33due to high rates. The U.S. mining sector faces growing scrutiny over energy use
00:38as extreme weather, power outages, and rising demand from artificial intelligence data centers
00:44pressure grids nationwide. Shares of Riot fell about 6%, and Mara Holdings dropped around 5%.
00:51For all things money, visit Benzinga.com.
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