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.
While Texas demonstrates its pro-mining stance, other states are also exploring their approaches to the industry. Arkansas and Montana have passed legislation to protect mining activities, while similar bills in Missouri and Mississippi did not advance. In contrast, New York has imposed a moratorium on new fossil fuel-based bitcoin mines, and Oregon is considering legislation to reduce greenhouse gas emissions from data centers, including miners. Meanwhile, the proposed 30% tax on bitcoin mining put forth by the Biden administration appears to have stalled, as it did not make it into the recent bill on the debt ceiling.
