Texas Legislature Weighs In On Bitcoin Mining
Legislators out of Texas in the United States passed two bills in support of Bitcoin miners during their recent legislative session:
The first bill, SB 1929, will require Bitcoin miners whose energy capacity exceeds 75 megawatts to register with the Public Utilities Commission of Texas, which then shares data with the Electricity Reliability Council of Texas (ERCOT), an entity that oversees operations for the state’s energy grid.
The second bill, HB 591, will provide tax exemptions for companies (including Bitcoin mining operators) that use wasted gas resources, such as flared natural gas.
Many people see the passage of these bills as a positive development for the bitcoin mining industry in Texas. The state has become a major hub for Bitcoin mining over the past few years, and supporters believe that the bills will help to ensure that Texas remains a leader in the mining industry within the U.S.
However, the legislative session was almost not all positive for Bitcoin mining — one bill tried to impose restrictions on the industry's involvement in demand-response programs. Those programs are widely regarded as enhancing grid stability because they promote energy conservation by encouraging miners to scale back their operations during periods of heightened energy consumption. That bill, SB 1751, did not pass though.
The Texas legislature is expected to continue to monitor the issue of Bitcoin mining in the coming years, and may consider additional legislation and regulations related to Bitcoin mining.
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