{"id":166165,"date":"2022-10-29T15:38:11","date_gmt":"2022-10-29T15:38:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=166165"},"modified":"2022-10-29T15:38:11","modified_gmt":"2022-10-29T15:38:11","slug":"texas-is-still-a-major-crypto-mining-hub","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/texas-is-still-a-major-crypto-mining-hub\/","title":{"rendered":"Texas Is Still a Major Crypto Mining Hub"},"content":{"rendered":"

Over the past year or so, the state of Texas has become one of the go-to regions for people looking to either establish new crypto mining projects or continue what they\u2019ve already started. Several months later, it doesn\u2019t look like that trend is ending anytime soon.<\/p>\n

Texas Is Still a Mining Powerhouse<\/h2>\n

Things began in the summer of 2021 after China announced it was going to end all crypto mining projects and dub them illegal. The news was shocking given the country hosted nearly three quarters of the world\u2019s digital asset mining, but the county didn\u2019t care about all the revenue and power it was going to lose by making everything illicit. China wanted to become more carbon neutral.<\/p>\n

This forced many players in the Chinese crypto industry to find new regions to travel to if they wanted to stay in business. Texas seemed like a great place given the state offered low electricity costs. They could keep their operations up for a fraction of the price and continue to extract new units of BTC and other assets from the blockchain.<\/p>\n

Many headed to the Lone Star state and established businesses and jobs and helped its economy reach a new pinnacle. What\u2019s interesting is that many of these miners did not transfer over to large states such as Austin or Dallas. Rather, they chose to set up their shops in smaller, more rural towns.<\/p>\n

Mitchell Ferman \u2013 a reporter within the state \u2013 believes this is happening because these regions offer loads of unclaimed land that can be used to develop large warehouses that people can use to house their mining rigs and equipment. In an interview, he stated:<\/p>\n

\n

We\u2019ve seen major urban areas grow a lot, and so these crypto companies are seeing that there are vast amounts of land and opportunity to grow in rural Texas.<\/p>\n<\/blockquote>\n

While things have been positive, the amount of new energy flowing out of the Texas electricity grid and into these mining projects has caused serious problems for the Lone Star state, which according to regulators within the region, is suffering from an energy crisis that has caused blackouts and other issues.<\/p>\n

Ferman commented on this as well, saying:<\/p>\n

\n

Energy regulators and others who pay close attention to the grid say that the grid is not just going to allow these major industrial sites to connect if there is no sufficient power supply available.<\/p>\n<\/blockquote>\n

Miners Are Cooperating<\/h2>\n

The good news is that many crypto miners are beginning to cooperate heavily with regulators. They don\u2019t want to run the risk of not being able to operate in the future, so they are able and willing to turn off their machines whenever they receive notices that things are not looking good.<\/p>\n

This gives Texas time to revamp itself, and they can continue their projects in the future.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Over the past year or so, the<\/p>\n","protected":false},"author":3,"featured_media":166164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nTexas Is Still a Major Crypto Mining Hub - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/texas-is-still-a-major-crypto-mining-hub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Texas Is Still a Major Crypto Mining Hub - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Over the past year or so, the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/texas-is-still-a-major-crypto-mining-hub\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-29T15:38:11+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/10\/Texas-Is-Still-a-Major-Crypto-Mining-Hub.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/texas-is-still-a-major-crypto-mining-hub\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/texas-is-still-a-major-crypto-mining-hub\/\",\"name\":\"Texas Is Still a Major Crypto Mining Hub - 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