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Texas Threatens to Dim the Lights on Bitcoin Miners

Texas Threatens to Dim the Lights on Bitcoin Miners

A proposal by the Texas Senate committee could make bitcoin mining in the state less appealing.

On April 4, lawmakers unanimously approved Senate Bill 1751.

The bill, supported by Republican state senators Lois Kolkhorst, Donna Campbell, and Robert Nichols, aims to eliminate tax benefits and require miners using more than 10 MWs to register as flexible load operators with the state’s grid operator ERCOT.

Thanks to its deregulated grid, low electricity costs, and renewable energy options, Texas is currently a major hub for Bitcoin mining. Miners nationwide reportedly use 75% more power than last year.

READ MORE: Hedge Fund Manager Predicts $10 Million Price Bitcoin

However, the state’s grid has experienced deadly outages during extreme weather in recent years, making the issue of consistent energy supply contentious.

The proposed bill would limit miners’ participation in demand response programs to 10% of the total program. The bill is now headed for a floor vote in the Texas Senate before moving on to the House.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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