Crypto enthusiasts, industry leaders, state lawmakers, and Capitol Police officers gathered at the Texas Capitol in Austin on April 25 to discuss the potential future of Bitcoin mining in the state if a bill known as SB 1751 is passed. If approved, the proposed bill could pose a significant risk to the mining operations of numerous cryptocurrency firms in Texas. The bill seeks to add more constraints for these companies by modifying the state’s utilities and tax code. It has already cleared the Texas Senate Committee on Business and Commerce, as well as the entire Texas Senate. As of April 24, the legislation was introduced in the state’s House of Representatives and referred to the Committee on State Affairs for further consideration.
Advocacy groups, including the Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council, called for a rally at the Texas State Capitol to show Texas lawmakers their opposition to the legislation. The groups argue that the bill could discourage investors from coming into the state and is limiting the space for growth of Bitcoin mining.
