The Hash War Thermostat: Why Bitcoin's Energy Appetite Is Actually a Price Support Mechanism
In February 2021, Texas experienced a catastrophic winter storm that crippled the state's power grid. Amid the chaos, a Bitcoin mining facility went dark voluntarily, freeing up 500 megawatts for residential use. This wasn't corporate virtue signaling—it was pure economics. Bitcoin miners are sophisticated energy traders, not dumb power hogs.