According to Denis Porter, co-founder and CEO of Satoshi Action Fund, the Senate bill 1751 will have a negative impact on crypto mining and the creation of new jobs in rural areas. The bill will also affect the state’s program to regulate electricity demand.
The US Senate voted unanimously for the adoption of the bill, after which the document will be sent to the Texas House of Representatives.
Texas is the world’s largest center of the energy—intensive mining industry. This is due to low electricity prices and a favorable business environment. But since the summer of 2022, the situation began to change, as the Texas network operator slowed down the issuance of permits for the construction of new facilities due to the large influx of crypto miners.
It should be noted that the new bill will limit the participation of miners in such network services as demand response programs, cancel tax benefits for certain property and require registration as flexible load operators in the Texas network operator ERCOT when using computing power of more than 10 MW.
Kristin Cranley, Director of business Development at the Texas Blockchain Council, urges residents of the state to vote against this bill, as she believes that this will increase the costs of ERCOT and taxpayers, as well as lead to a decrease in the stability of the network.