How Texas Became a Global Mecca for Bitcoin Mining

For an example of how the state can be friendly to business, miners can point to a recent piece of proposed legislation, SB 1751, which initially passed the state senate in April. The bill would have reduced miners’ incentives from the power grid, as well as end mining tax abatements. (This would have cost Riot alone nearly $30 million, according to one estimate.) After the bill passed the Senate, the mining industry met with politicians and made their case. “The regulators in Texas have been very open to working with bitcoin miners,” says Sullivan. “They recognize the benefits that we bring to the grid.” A month after the bill passed in the Senate, it died in the House and the miners rejoiced.