Why Bitcoin Mining Is Taking Off In The Lone Star State Today

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By its nature, Bitcoin mining is energy intensive and incentivizes 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.

Read More:   Bitcoin And The Thermodynamics Of Computation Today


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