Bitcoin mining presents a threat to the American power grid, warns credit rating agency

[Redaktion]

Adding to the worries of cryptocurrency investors, the credit rating agency Fitch has issued a statement defining Bitcoin mining as a potential threat to the stability of the American power supply system. Not only is crypto mining energy-intensive, Fitch says, but the plunge in Bitcoin prices could force farms to renege on their long-term electricity supply contracts.

https://www.notebookcheck.net/Bitcoin-mining-presents-a-threat-to-the-American-power-grid-warns-credit-rating-agency.595399.0.html

[Pooh Sheisty]

Don't believe this for a second

[vertigo]

Not only would rates increase, putting the cost of this BS on everyone else instead of the ones reaping the profits of mining, but taxpayer money will likely be funneled into it as well, seeing as electric utilities are too big to fail. America really will never learn.

Don't believe this for a second

Ok, I'll believe you instead. Your thorough argument against this has persuaded me.