This is part of the debacle with Texas’ power grid woes from last (?) year. Basically they gave these crypto mining operations locked in pricing per k/Wh for several years but they then rely on doing “surge pricing” of the electricity to manage the grid when consumption is greater than demand (heat waves in the clearest example), so the mining operations made more money by suspending mining and selling their fixed price power from the grid back to people that needed it at the surge pricing.
This is part of the debacle with Texas’ power grid woes from last (?) year. Basically they gave these crypto mining operations locked in pricing per k/Wh for several years but they then rely on doing “surge pricing” of the electricity to manage the grid when consumption is greater than demand (heat waves in the clearest example), so the mining operations made more money by suspending mining and selling their fixed price power from the grid back to people that needed it at the surge pricing.