A report from Earthjustice highlights how cryptocurrency mining operations benefit from significantly lower electricity rates, leading to increased costs for regular consumers. In states like Texas and New York, miners pay as little as 2.5 and 3 cents per kilowatt-hour, while residents face rates of 14.5 and 22.3 cents, respectively. This disparity has raised electricity bills for Texans by $1.8 billion annually, contributing to power grid stress and minimal job creation, contradicting claims of economic benefits.
