Texas Is The Bitcoin Mining Capital

By its nature, Bitcoin mining is energy intensive and encourages the use of cheap energy to turn a profit. Bitcoin miners have started to flock to Texas because of the current “goldilocks” situation for cryptocurrency mining created by three main factors:

  1. The state’s energy infrastructure allows for access to cheap power from its deregulated power market;
  2. Its growing energy source mix from renewables, particularly wind energy; and
  3. Its supportive policy and backing by policymakers

Bitcoin Mining: Leaning On Texas’s Energy Infrastructure

While Bitcoin mining has been criticized for being energy-intensive, Texas Governor Greg Abbott, among others, views Bitcoin mining as a solution to other related issues, such as taking advantage of untapped energy, including natural gas (such as surplus gas or associated gas ) that would otherwise be flared or vented because of limited infrastructure to transport it to a destination.

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