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Riot Platforms rakes in $31.7 million in energy credits during Texas heat wave

During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it’s counting on energy credits from selling power back to the Texas grid to keep its costs under control.

Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. The company generated the credits by voluntarily curtailing its energy consumption during a record-breaking heatwave.

The total value of the credits dwarfed the 333 bitcoin the company mined in August, worth about $8.9 million dollars as of the end of the month.

“August was a landmark month for Riot in showcasing the benefits of our unique power strategy,” said Jason Les, CEO of Riot, in the company’s press release. “The effects of these credits significantly lower Riot’s cost to mine Bitcoin and are a key element in making Riot one of the lowest cost producers of bitcoin in the industry.”

It’s a dramatic strategy shift for Riot, whose revenue soared almost 8,000% in 2021 from booming demand for bitcoin. The crypto market reversed in 2022, leading to a net loss of over $500 million for the year. In the latest quarter, the company lost $27.7 million.

Bitcoin’s recovery this year from 2022’s lows has boosted Riot’s stock, which is up about 230% so far in 2023, closing Wednesday at $11.24. But it’s still way down from its 2021 peak of $77.90.

Bitcoin miners broadly have struggled amid low trading volume, according to an analyst note from JPMorgan Chase on Sept. 1. The firm found that the market cap of the 14 U.S.-listed bitcoin miners it tracked fell 21% in August to $9.7 billion. Riot was the worst-performing stock in that list, falling 39% for the month.

Ballooning energy prices have also helped to drag down profits for the sector, so companies have turned to alternative sources of income.

Riot’s Whinstone mine in Rockdale, Texas.

Riot’s Whinstone Data Center

Paying miners to power down

The Electric Reliability Council of Texas, or ERCOT, has a relatively simple and mutually beneficial relationship with bitcoin miners. The agency, through established “demand response” programs, pays miners to reduce their power so as not to overstress the grid when air conditioners need to run at full blast. In addition to summer difficulties, ERCOT also failed during the fatal winter storm of early 2021.

For years, Riot has been powering down operations at its Rockdale mine, about an hour from Austin, to help ease the burden on the state’s grid.

ERCOT has historically struggled with fluctuating energy prices and sporadic service, so it strikes deals with flexible energy buyers like crypto miners. The agency also counts on bitcoin miners to soak up excess power when there’s too much supply, keeping prices in check.

Texas has made itself an ally to the bitcoin mining industry through credits, but the financial incentives hit a snag in early 2023. A bill to cut off the mining industry from those credits – SB 1751 – passed the Texas State Senate in April, but ultimately stalled out in a House committee.

Instead, state lawmakers passed two mining-friendly bills expanding incentives and cutting red tape for the industry. Those went into effect on Sept. 1.

Whinstone CEO Chad Harris takes CNBC on a tour of the largest bitcoin mine in North America.

The economic equation revolves around how much money the miners are losing by not being up and running. If the grid operators pay the miners a penny more than they would have made from mining in any given hour, then they’ll gladly power down.

“All you have to do is pay the miners slightly more than what they would have made mining for bitcoin that hour,” said bitcoin mining engineer Brandon Arvanaghi, who now runs Meow, a company that enables corporate treasury participation in crypto markets. Arvanaghi calls the setup a “a win-win.”

Marathon’s Fred Thiel previously told CNBC that from his experience, the companies get curtailment requests less than 3% of the time in the course of a year, which he estimates comes to about five to ten hours a month. Even bitcoin miners that haven’t cut a deal with ERCOT sometimes choose to power down at times of peak consumption when prices shoot higher.

Unlike the rest of the continental U.S. that belongs to one of two interconnected grids, 90% of Texas runs on ERCOT, a deregulated and independent network of energy providers that’s not tethered to any other grid in the U.S. 

While competition in the market often drives down the price of power as providers compete on cost to capture customers, it also means that there’s less of a safety net baked into the grid. Adding a “controllable load resource” like bitcoin miners to the grid acts as a sort of life insurance policy, or a hedge against disaster.

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EcoFlow’s Halloween Sale adds Monthly Madness promotions with up to 65% discounts, extra savings, 3x EcoCredits from $249, more

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October 30, 2025

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EcoFlow's Halloween Sale adds Monthly Madness promotions with up to 65% discounts, extra savings, 3x EcoCredits from 9, more


Our Green Deals today is being headlined by EcoFlow’s switched-up Halloween Sale with Monthly Madness promotions lasting only for the next two days with up to 65% discounts, bonus savings, 3x EcoCredit rewards, and more. Among the expanded lineup, we spotted the brand’s new DELTA 3 Max Portable Power Station coming with a FREE trolley at a new $721 low. Speaking of switched-up sales, Rad Power Bikes has not only extended its Haul-o-ween Sale, but is also offering up to $200 discounts/bundles on select e-bikes alongside some extra savings on e-bikes and accessories – all starting from $89. We also have Autel’s MaxiCharger Home 50A Level 2 EV Chargers in either a wood grain or blue colorway at $404, as well as a one-day-only snow shovel deal, and many soon-to-end deals on power stations waiting for you below. And don’t forget about the hangover deals from last week that are collected together at the bottom of the page, like yesterday’s exclusive camping-ready Bluetti power station deals, the new low on Heybike’s Tyson Uni-body e-bike, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

EcoFlow has switched up its ongoing Halloween Sale to include its Monthly Madness promotions for the last two days of October, complete with a bonus 5% sitewide savings code, a free gift promotion with orders over $1,000, member-only deals (sign-up is free), 3x EcoCredit rewards, and the chance to cash them in for additional savings. Among the expanded lineup, as well as the member-only deals, you can find the brand’s new DELTA 3 Max Portable Power Station with a FREE trolley at $721.05 shipped, after using the code 25EFHWAFF at checkout, which beats its Amazon pricing by $78. This is one of the brand’s latest releases that hit the market at the end of September carrying a $1,499 MSRP, which we saw taken down to $759 with the launch savings while spending most of the time at $799 over at Amazon. Now, for the next two days, you’re getting even more savings as a total $778 is cut from the tag, landing it $38 under our previous mention at a new all-time low price. Head below for more on this new backup power solution and the expanded lineup of deals.

Upgraded from the DELTA 3 Classic model, EcoFlow’s new DELTA 3 Max power station starts improvements with a doubled 2,048Wh LiFePO4 capacity over its predecessor, which you can expand up to 10,240Wh by using extra batteries for the DELTA 3, DELTA Pro 3, DELTA 2 Max, or DELTA 2, giving it a nice array of modular versatility. It produces up to 2,400W of power output (surging up to 3,400W) to devices connected to any of its nine port options, broken down into four ACs, three USB-Cs, one USB-A, and one car port. It brings four ways to recharge its own battery, with a standard AC outlet taking 68 minutes to reach 80%, which is how long a gas generator would also take, while utilizing its max 500W solar input can get you back to 80% in 3.43 hours of sunlight, and also benefits from the brand’s alternator charger.

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***Note: The prices for this Halloween Monthly Madness Sale below have not had the extra 5% savings factored in (which doesn’t work with select offers like the flash sale items), so be sure to use the code 25EFHWAFF at checkout to score the best deal!

EcoFlow’s Halloween Monthly Madness member-only deals:

EcoFlow’s Halloween Monthly Madness power beast deals:

EcoFlow’s Halloween Monthly Madness wicked watts deals:

EcoFlow’s Halloween Monthly Madness Sale also has a promotion that gives you a 15% bonus savings when buying any two add-on accessories, which you can view at the bottom of the main sale’s page here.

man and woman riding Rad Power RadRover 6 Plus e-bikes through forest

Rad Power has both extended and condensed its Haul-o-ween Sale, with one e-bike seeing a $200 discount, while the brand’s RadWagons get a FREE accessory of up to a $200 value – plus, a bonus 15% discount on select models and gear for military, first responders, teachers, and other qualified GOVX members. During this sale, we’re seeing the continuance of the brand’s RadRover 6 Plus Step-Thru Fat-Tire e-bike at $1,399 shipped. This is a popular multi-terrain commuter that normally goes for $1,599 in full, though we’ve regularly seen it dropped down between $1,399 and $1,299, with some falls to $1,199 earlier in the year before tariffs began stiffening up the market. For only a handful of days more, you can jump on it for your needs with $200 cut from the price tag at the third-lowest rate we have tracked to date.

If you want to learn more about the RadRover 6 Plus, or browse the full lineup of deals, be sure to check out our original coverage of this extended sale here.

man charging EV with Autel wood grain MaxiCharger Home 50A Ev charger

Save $165 on Autel’s stylish MaxiCharger Home 50A level 2 EV chargers in wood or blue colorways at $404

Autel’s official Amazon storefront is offering its MaxiCharger Home Level 2 50A EV Charger, in either a Wood Grain or the Prime-exclusive Sierra Blue colorway, at $403.75 shipped. Both of these normally go for $569 in full, with the Sierra Blue colorway spending far more time at that rate than the Wood Grain variant, which saw discounts to $455, $425, and a one-time appearance of its $399 low back in January, whereas the Sierra Blue’s $399 low was last seen in 2024. You’re looking at a $165 markdown on these two colorful charging solutions, which lands them both at the second-best prices we have tracked, though this is an annual low for the Sierra Blue model in particular.

If you want to learn more about these EV chargers, be sure to check out our original coverage of these deals here.

man uses Greenworks 80V 12-inch snow shovel in front of home

Get the 80V Greenworks 12-inch snow shovel with a 2.0Ah battery and rapid charger at $250 for today only

As part of its Deals of the Day, and following right behind yesterday’s one-day snow blower deal, Best Buy is now offering the Greenworks 80V 12-inch Cordless Brushless Snow Shovel with a 2.0Ah battery and rapid charger at $249.99 shipped, which also matches Amazon’s pricing. Normally going for $350 in full here, as well as directly from Greenworks’ website, where it is currently priced, it’s been regularly seen instead down between $300 and $275 over 2025. While we have seen it go lower in the past, for the rest of the day, you’re looking at a $100 markdown that lands it amongst the lowest prices we’ve seen from Best Buy, letting you bulk up your arsenal to tackle snow-clearing needs in the upcoming months.

If you want to learn more about this snow shovel’s capabilities, be sure to check out our original coverage of this one-day-only deal here.

jackery power stations with spooky pumpkin and bats
woman carries Anker powercore reserve power station towards car near lake

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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Kia launches a ‘full-scale attack’ as its first EV storms into Japan’s forbidden land

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October 30, 2025

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Kia launches a 'full-scale attack' as its first EV storms into Japan's forbidden land

Kia-first-EV-Japan

Kia is officially entering the forbidden land after unveiling its first vehicle in Japan. The PV5 will spearhead Kia’s “full-scale attack” on the Japanese market as it looks to take on Toyota, Honda, and Nissan on their home turf.

Kia launches its first EV in Japan, the PV5

At the Japan Mobility Show on Wednesday, Kia declared its foray into the Japanese market. The PV5, Kia’s first electric van, will serve as a vanguard as it looks to break into Japan’s auto market.

Domestic automakers like Toyota, Honda, and Nissan account for about 90% of new car sales in Japan, making it nearly impossible for foreign automakers to compete.

Kia sees an opportunity to capitalize on Japanese brands that have been slow to transition to EVs, focusing on hybrids instead.

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After unveiling the PV5 in Japan for the first time, Kia said it’s launching a “full-scale attack” on the Japanese EV van market. Kia said the decision comes as demand for EV vans and other electric vehicles is expected to pick up, driven by the Japanese government’s policy to convert 30% of new car sales to EVs by 2030.

Sang Dae Kim alongside the Kia PV5 Passenger (Source: Kia)

Last year, Kia signed a contract with Sojitz, a leading trading company in Japan, to sell electric vans in the country.

Kia and Sojitz are establishing a new business, “Kia PBV Japan,” to establish a local distribution network across the region.

Kia-first-EV-Japan
Kia PV5 display at the Japan Mobility Show (Source: Kia)

Over the next year, Kia plans to add eight dealers and 100 service centers. Kia will launch the PV5 Passenger and Cargo models in Japan in 2026, but more variants are set to follow shortly after. The PV5 WAV, a wheelchair accessible version, and the larger PV7 will arrive in 2027.

Kia-first-EV-Japan
Kia PV5 Passenger (left) and Cargo (right) Source: Kia

“Kia’s entry into Japan is significant in that it goes beyond simply launching new cars and introduces a new form of mobility to Japanese society,” Sang Dae Kim, head of Kia’s PBV business, said.

The PV5 is already rolling out across Europe and South Korea, but Kia has much bigger plans. In addition to Japan, Kia plans to launch the PV5 in the Middle East, Asia, and Africa in 2026.

By the end of the decade, the company aims to sell 250,000 electric vans a year. Japan is expected to be a key market with limited electric solutions in the commercial space. Kia said the PV5 can “also address social issues such as increased logistics, labor shortages, and regional transportation gaps.”


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Toyota’s solid-state EV battery dreams might actually come true

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4 hours ago

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October 30, 2025

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Toyota's solid-state EV battery dreams might actually come true

Toyota-solid-state-battery-EV

Toyota is still on track to launch its first solid-state battery-powered vehicle within the next two to three years. An executive confirmed Toyota’s timeline at the Tokyo Motor Show this week.

Toyota’s first solid-state battery-powered EV is on track

Earlier this month, Toyota said it aims to “achieve the world’s first practical use of all-solid-state batteries in BEVs” after securing a new partnership with Sumitomo Metal Mining Co. to mass-produce the new battery tech.

Toyota has been hyping up solid-state batteries for nearly a decade. It was initially planning to launch them in 2020, but the launch was pushed back to 2023, then to 2026. The new tech is still a few years away, but Toyota insists it will become a reality.

At the Tokyo Motor Show, Keiji Kaita, president of Toyota’s Carbon Neutral Advanced Engineering Development Center, confirmed it’s “sticking on the schedule” to introduce its first solid-state battery-powered EV by 2028.

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Kaita added that solid-state batteries are “very important in the future,” promising to nearly triple driving range while cutting charging time in half.

Toyota-solid-state-battery-EV
Toyota CEO Koji Sato reveals the Corolla Concept at the Japan Mobility Show (Source: Toyota)

“For the all-solid-state battery, the characteristic is high power, compact, and long range,” Toyota’s executive explained at the event (via Autocar).

However, as to which vehicle it will debut in first, remains a mystery. “Whether it will be a Lexus or Toyota, we will leave that to your imagination,” Kaita said.

Toyota-Corolla-EV
The Toyota Corolla EV Concept (Source: Toyota)

While solid-state batteries offer the potential for drastic improvements in driving range, charging time, and output, Toyota said they will also reduce emissions with less environmental impact.

“We will try to reduce the carbon footprint, and the key here is reducing the CO2 output in the process of manufacturing the material. But the most important thing is producing a battery whose life is longer,” Kaita explained at the event.

Toyota-solid-state-battery-EV
Toyota EV battery roadmap (Source: Toyota)

According to Hiroki Nakajima, Toyota’s chief technical officer, solid-state batteries could, “technically speaking,” be used in its current EV platform. However, the tech is better suited for a dedicated platform.

Toyota recently revealed a solid-state battery pack prototype, claiming it can deliver 745 miles of range (1,200 km) and charge in under 10 minutes.

To make it a reality, Toyota is partnering with several major Japanese firms, including Idemitsu Kosan, to mass-produce solid-state EV batteries.

Toyota-solid-state-battery-EV
Idemitsu’s value chain for solid electrolytes used in all-solid-state EV batteries (Source: Idemitsu)

Idemitsu announced plans earlier this year to build a large-scale production plant for lithium sulfide, a key raw material used in all-solid-state EV batteries. Once complete, the facility will be capable of producing 1,000 metric tons of lithium sulfide annually. Idemitsu aims to begin mass-producing all-solid-state batteries in 2027.

The partnership is part of Japan’s broader strategy to wean itself off of China and South Korea to establish a domestic supply of EV batteries.

Toyota-first-all-solid-state-EV
Toyota-first-all-solid-state-EV

Toyota is one of a few companies investing a combined 1 trillion yen ($7 billion) to build electric vehicle batteries in Japan.

To maximize range and efficiency, Toyota plans to reduce the height of the battery housed under the vehicle to 120 mm. In high-performance EVs, it could be reduced to as low as 100 mm. Toyota previewed the design in the Corolla Concept, which debuted at the Tokyo Motor Show on Wednesday.

Electrek’s Take

Toyota has been making bold claims about solid-state EV batteries for nearly a decade now. Will it finally bring the new battery tech to market?

Toyota insists it’s still on track to launch them in 2027 or 2028, but how many times have we heard this before? Until we see prototypes out for testing and real-life results, I’ll believe it when I see it.

Meanwhile, others are already testing solid-state batteries on the road. Mercedes announced that it put “the first car powered by a lithium-metal solid-state battery on the road” in February. And then, just last month, Mercedes drove an EQS equipped with solid-state batteries for nearly 750 miles (1,205 km).

Mercedes also considers solid-state batteries to be a “game-changer” for electric vehicles. It plans to put the battery tech into series production by the end of the decade.

Nissan also recently took a big step toward commercializing all-solid-state EV batteries after prototype cells reached performance targets set for mass production

CATL and BYD, which account for over half of global EV battery sales, plan to introduce solid-state batteries around 2027, with mass production closer to 2030.

In August, SAIC MG claimed the new MG4 was “the world’s first mass-produced semi-solid-state” electric vehicle to hit the market.

If Toyota wants to be among the first, it had better get moving.


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