Bitcoin

<ul><li>“Don’t Mess With Texas Innovation” prevails by defeating Senate Bill 1751.</li><li>The campaign secures Texas’ strong Bitcoin mining industry foothold.</li></ul>Bitcoiners were elated by the recent breaking news that emerged in Texas. The “Don’t Mess With Texas Innovation” campaign achieved triumph as it successfully defeated Senate Bill 1751. The Texas Blockchain Council, the Satoshi Action Fund, and the Chamber of Digital Commerce led the campaign. It was launched in response to SB 1751, an anti-bitcoin mining bill in the state of Texas.SB 1751 aimed to impose severe restrictions on Bitcoin mining in Texas. It would have had negative implications for the <a href="https://thenewscrypto.com/mastering-bitcoin-market-cycles-an-in-depth-on-chain-analysis/" rel="noopener noreferrer nofollow">Bitcoin</a> industry and increased energy prices for Texans. It is worth noting that <a href="https://thenewscrypto.com/proof-of-reserves-legislation-inches-closer-to-becoming-a-law-in-texas/" rel="noopener noreferrer nofollow">Texas</a> has a significant presence in the Bitcoin mining sector, making this legislation particularly impactful. However, the campaign’s success ensures that Texas can maintain its strong foothold in the Bitcoin mining industry.<h3 id="behind-the-campaign-s-win">Behind the Campaign’s Win</h3>The “Don’t Mess With Texas Innovation” initiative sprang into action in early April when SB 1751 gained momentum in the Senate. The bill swiftly progressed through committee proceedings and ultimately received a unanimous vote on the Senate floor. The campaign dedicated significant efforts to enlighten the public about the detrimental consequences of this legislation.Dennis Porter, the CEO, and co-founder of Satoshi Action Fund, said<blockquote>“This win ensures that energy innovation will continue to grow in America and ensures we lead the world in Bitcoin mining. Most importantly, this win highlights the power the Bitcoin community has when we unite to push back against bad policy. It demonstrates that our community and industry can achieve victory when we work together”</blockquote>The campaigners emphasize the economic significance of the Bitcoin mining industry for rural communities in Texas. They highlight that the Bitcoin mining industry employed 22,000 Texans. And that Bitcoin miners contribute to the stability of the Texas ERCOT grid by providing critical grid-balancing services during emergencies.While the Bitcoiners celebrate this win, concerns arise over the environmental impact of mining. Nonetheless, the victory promises positive effects on the economy, environment, and grid stability.

Anti-bitcoin Mining Bill Denied: Bitcoin Miners Triumph in Texas

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TheNewsCrypto

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