A spokesperson from the Electric Reliability Council of Texas (ERCOT) — the organization that operates Texas’s electrical grid — told Cointelegraph that crypto loads can have impacts on the grid just like any large load. Yet, they noted that crypto miners can help stabilize the grid by shutting down their demand for electricity in real time:

New York state governor Kathy Hochul has signed a moratorium on using fossil fuels to power Bitcoin mining operations in the region. 

Core Scientific Inc., the largest publicly traded <a href="https://coingape.com/tag/bitcoin/">Bitcoin</a> mining business in the U.S., reported a $1.7 billion loss for the first nine months of the year. The Austin, Texas-based business is one of the miners that has been most hit,&nbsp;as low Bitcoin prices have caused mining revenue to drop to an all-time low.

Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidiaries.

Most bitcoin mining stocks tracked by The Block traded lower on Monday, some by double digits.

Bitcoin miners are selling their coins at a record pace after the top cryptocurrency by market cap fell to its lowest price in 2022 this month.&nbsp;