In June 2025, Bitcoin (BTC) mining output in Texas dropped significantly due to a power event driven by extreme heat, which strained the Electric Reliability Council of Texas (ERCOT) grid. Major mining firms like Marathon Digital curtailed operations to avoid high electricity costs during peak demand, as reported by Tokentopnews.com. The grid’s susceptibility to heatwaves is demonstrated by posts on X that show an 8.4% hashrate drop and more than 1 million computers momentarily going down.
Jim Crawford, COO of Marathon Digital, highlighted the firm’s proactive measures, including power purchase agreements with renewable energy providers to support grid stability and sustainability. Marathon reduced operations in Granbury and other sites, prioritizing cost savings over immediate output. Crawford noted a phased plan to mitigate noise pollution, transitioning to liquid cooling systems to replace noisy fans, addressing community concerns in Hood County.
Uniswap’s AMM model, enhanced by Layer-2 solutions (Optimism, Arbitrum), minimizes slippage and fees, while Hyperliquid’s gasless trading, one-click execution, and novel reverse auction for token listings (raising $1M+ for buybacks) attract traders. Hyperliquid’s $13.65B market cap and $284.88M 24-hour volume for HYPE reflect its growth, though its 21-validator structure raises centralization concerns. Uniswap’s UNI token supports governance, but its $45.53 HYPE all-time high (June 2025) lags Hyperliquid’s momentum. Both platforms leverage BTC and Ethereum liquidity, with Hyperliquid offering unique pre-launch and index perpetuals.
The output drop underscores Texas’ grid fragility, exposed by past events like the 2021 winter storm. Miners like Marathon and Riot Platforms profit from demand-response programs, earning $31.7M and $24.2M respectively in August 2023 by selling power back to ERCOT. However, critics argue this burdens consumers, with miners consuming 3,200 MW (enough for 800,000 homes) and potentially driving up energy costs. Environmental concerns persist, as mining’s reliance on fossil fuels increases emissions, despite claims of renewable integration. Future regulatory shifts, like Senator Lummis’ tax exemptions, may ease costs, but noise and water usage (e.g., Riot’s 1.5M gallons/day) remain contentious.
