These US States Want Your Bitcoin Mining Company

Several US states, including Texas, Wyoming, and Illinois, are actively competing to attract bitcoin mining companies. While China seems serious about shutting down the bitcoin mining industry, the Iranian government is closing some mines and India is unsure of its policy, the US is clearly open to bitcoin mining. US states are actively seeking mining companies, looking for markets for stranded or unused energy (more built from a past with a more active manufacturing economy). Additionally, there is an interest in job creation, particularly in the initial phase of a mining operation. For example, New York state senators recently had to repeal a version of a bill that would impose a moratorium on new and growing mining operations, as members of the International Brotherhood of Electrical Workers were reported to be lobbying against potential bans. Meanwhile, Texas is racing to become a new global epicenter for Bitcoin and its industries. And three other states – Wyoming, Nebraska and Illinois – have passed digital statutes to allow financial institutions to transact with bitcoin, signaling that they are open as well. Texas Bitcoin mining companies Bitmain, Blockcap, Argo Blockchain, BIT, Layer1 and Compute North have chosen to settle in Texas, where energy is cheap and government-friendly. Expressing his support for the new cryptocurrency laws, Texas Governor Greg Abbott said on June 14, "I have signed a law that places virtual currencies under the Texas Uniform Commercial Code as a secure transaction when a person has a right over it and someone controls it. ” And former Governor Rick Perry also made positive statements about the Bitcoin industry. Compared to many US states, Texas energy prices are cheap and there is ample access to renewable resources, outpacing many bitcoin miners.

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