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Stock impact report

Bitcoin miners see profits rise 150% amid US winter storm — by not mining Bitcoin [Yahoo! Finance]

TeraWulf Inc. (WULF) 
Company Research Source: Yahoo! Finance
Instead of using energy for mining, they're selling that surplus power back to stressed power grids, making far more money than they would mining Bitcoin. “The grid may ask for that energy and the mining may turn off, but that means the grid is paying more for the energy than the miner is making by mining Bitcoin,” Scott Norris, chief mining officer at tokenised Bitcoin hashpower company Omnes, told DL News Norris explained the maths. A miner earning 8 cents per kilowatt-hour from mining could get paid 20 cents by the grid during peak demand. If their energy costs are only 4 cents, that's a massive profit margin just for turning mining machines off. “This I believe is all around a positive for the miner no matter the scenario,” Norris said. Bitcoin mining stocks rallied on the opportunity. TeraWulf shares rose 15% and Iren jumped 18% over the past five days, according to Yahoo Finance. Despite critics lambasting Bitcoin mining's energy footprint, the current dynamics at pla Show less Read more
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