Texas Anti Bitcoin Mining Bill Failed To Become Law While Miners Got A New Tax Incentive
"The death of SB 1751 is a victory for the great state of Texas as we continue to lead the way as the energy capital of the world and the bitcoin mining capital of the world," said Lee Bratcher, the Texas Blockchain Council President.
"The Texas Blockchain Council, Satoshi Action Fund, and the Chamber of Digital Commerce launched the "Don't Mess With Texas Innovation" campaign on April 10, 2023 in response to SB 1751, an anti- Bitcoin mining bill which was introduced in the Texas legislature."
"Thanks to the work of these organizations and more than 5000 grassroots participants, SB 1751 was never brought for a committee vote in the House and failed to become law."
"Bitcoin miners are responsible for the employment of upwards of 22,000 Texans. These jobs often end up in rural and economically depressed areas of the state."
"Miners also provide critical grid balancing services to the Texas ERCOT grid. During winter storm Elliot in 2022 miners returned enough power to heat 1.5 million small homes. With the defeat of SB 1751 miners can continue boosting rural economies while keeping the lights on during emergencies," stated the press release.
Brian Morgenstern, Head of Public Policy at Riot Platforms, also shared the news about several related Bitcoin mining bills that were passed in same the session:
- "SB 1929 did pass, formalizing the registration process for Bitcoin miners to share information with @ERCOT_ISO to promote greater transparency and grid reliability." - "HB 591 passed, providing a tax incentive for using gas that would otherwise be flared into the atmosphere for on-site Bitcoin mining to reduce emissions." - "We also saw HB 1666 pass to create a nation-leading proof-of-reserves regime to build confidence in the digital asset ecosystem," Morgenstern wrote.