I think the majority of these are relocating in Texas and now that difficulty is increasing again mining will not be that profitable in the near and not near future.
How does this square with the fact that the power grid and pricing can be erratic in TX?
(See: 2021 Texas power crisis
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I don't know about that,I know that the laws are friendly for mining in Texas and that is why a lot of people that had devices in China will relocate in Texas.As how will that mix with their power grid there I don't know but I know US is a powerful country and will sort it out sooner rather than later.In US,Texas no one will shut down your devices with a communist decision like the ruling party in China.