On April 4, Texas Senate committee lawmakers passed Senate Bill 1751, a legislation that has been deemed as anti-crypto mining by some. The bill would remove several incentives for crypto miners in Texas, and if it passes, it could be detrimental to the industry. The Texas Blockchain Council, Chamber of Digital Commerce, and Satoshi Action Fund launched a campaign called “Don’t Mess With Texas Innovation” in response to the bill. The campaign calls for Texas residents to oppose the legislation and claims that the bill goes against free-market principles.
While some lawmakers have probed ERCOT on the energy usage and environmental impact of crypto mining companies, many experts believe that crypto firms didn’t contribute to the energy crisis in Texas in 2021. In fact, Bitcoin mining firms were able to curtail 50,000 megawatt hours of electricity in July 2022 alone to respond to record heat and energy demand, ensuring that Texans could continue to cool their homes.
