Texas is demonstrating its support for the bitcoin mining industry with the passage of two bills in the latest legislative session
Texas Legislature Looks to Solidify State’s Role as Bitcoin Mining Hub
Texas is demonstrating its support for the bitcoin mining industry with the passage of two bills in the latest legislative session, while another bill that could have impacted miners was halted at the committee stage. The bills, SB 1929 and HB 591, aim to provide support and incentives for miners. SB 1929 requires miners with energy capacity over 75 megawatts to register with the Public Utilities Commission of Texas and share their data with the Electricity Reliability Council of Texas. HB 591, on the other hand, introduces tax exemptions for companies that utilize otherwise wasted gas, including data centers.
However, a bill known as SB 1751, which could have limited the industry's participation in cost-saving demand-response programs, was stopped at the committee stage. Demand-response programs offer power credits to miners for reducing their operations during times of high energy demand. While the bill was not prioritized during the session and can be reintroduced in the future, industry advocates believe that increasing communication with the relevant authorities will improve transparency and publicly available data on mining, benefiting the industry as a whole.