After China’s Bitcoin (BTC) mining ban in May this year, the US became the biggest Bitcoin mining hub in the world. Most of the large Bitcoin mining farms in China either shut down completely or relocated to the US, Kazakhstan, and Russia to continue their mining operations. The US has seen the largest influx of Bitcoin miners especially in cities like Texas. However, what was seen as a great opportunity for the city now seems to be turning into a problem.
Texas is quite popular among crypto miners because of its business-centered regulations and cheap cost of electricity. The majority of the big crypto mining cooperations are opening up new subsidies and increasing their existing capacity with more mining rigs. This has put a severe concern among people whether the electric grid would be able to absorb the heavy load.
Texas Is Becoming A Mecca For Bitcoin Miners.#Bitcoin @Nasdaq @Bitcoin https://t.co/mNaSBG6EIT
— Greg Abbott (@GregAbbott_TX) May 5, 2021
Michelle Michot Foss, a f
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