Pro-Bitcoin Legislation Reigns Victorious In Texas This Year As The Legislative Session Ends
Bitcoin policy advocates celebrated several victories in the recent quarter, including the success of Texas SB 1929, a pro-mining bill, and the defeat of Texas SB 1751, an anti-mining bill. VP of Research at Riot Platforms Pierre Rochard expressed gratitude to everyone involved, stating, "Texas will continue to be #Bitcoin country!"
These legislative outcomes will contribute to the growth and stability of Bitcoin mining operations in Texas. As Brian Morgenstern, head of public policy at Riot Platforms reported, SB 1751 did not pass, ensuring the continuation of the state's usage of Bitcoin miners flexibility in balancing and stabilizing the power grid.
In contrast, SB 1929 successfully passed, establishing a registration process for Bitcoin miners to share information with ERCOT, enhancing transparency and grid reliability. Additionally, HB 591 was approved, providing a tax incentive for utilizing gas that would otherwise be flared into the atmosphere for on-site Bitcoin mining, promoting emissions reduction.