EEP
BNP Paribas Easy FTSE EPRA/NAREIT Developed Europe
stock NYSE

Honestly, to me this kind of news makes the case FOR bitcoin miners, not against them.
BTS miners were the EEP's single most profitable customer segment last fiscal year. Then this year they cut their power by 77% to prevent reservoir levels from dropping, without cutting power to homes or businesses or industry.
This means amazing profits when conditions are good, and demand-responsiveness when conditions are bad.
If I were in the business of selling power, this is exactly the kind of customer I'd want.
Also, in that area, el nino usually means less rain in June-September, and then more rain in October-December. With an extra strong el nino, we'll prolly see those reservoirs fill up very quickly. El nino doesnt mean worse conditions for everyone. it means different things in different areas at different times. Some may be bad, some may be good, some may be neutral.
And honestly none of that matters because even if 100% of miners in Ethiopia shut down tomorrow, it would represent a 2.4% drop in hashrate, which is a Tuesday for bitcon. The difficulty would drop a bit and we're back to 10 minutes. Then prolly some miners in other places would suddenly be profitable enough to switch on. Hashrate back up.

No matter how you slice it, bitcoin chugs along. Tick Tock, next block.

Honestly, to me this kind of news makes the case FOR bitcoin miners, not against them.
BTS miners were the EEP's single most profitable customer segment last fiscal year. Then this year they cut their power by 77% to prevent reservoir levels from dropping, without cutting power to homes or businesses or industry.
This means amazing profits when conditions are good, and demand-responsiveness when conditions are bad.
If I were in the business of selling power, this is exactly the kind of customer I'd want.
Also, in that area, el nino usually means less rain in June-September, and then more rain in October-December. With an extra strong el nino, we'll prolly see those reservoirs fill up very quickly. El nino doesnt mean worse conditions for everyone. it means different things in different areas at different times. Some may be bad, some may be good, some may be neutral.
And honestly none of that matters because even if 100% of miners in Ethiopia shut down tomorrow, it would represent a 2.4% drop in hashrate, which is a Tuesday for bitcon. The difficulty would drop a bit and we're back to 10 minutes. Then prolly some miners in other places would suddenly be profitable enough to switch on. Hashrate back up.

No matter how you slice it, bitcoin chugs along. Tick Tock, next block.