Texas may face a lack of electric power for mining operators by 2023
Industry News
While the US government has been discussing the pros and cons of the recently signed investment bill, Texas prefers to pave the crypto-progressive path – the state aims to become the global hub for the Bitcoin mining industry.
Texas is about to host crowds of mining operators, and the new course is about to influence the state’s energy consumption. As of today, the Texan mining industry consumes about 500-1000 megawatts; meanwhile, the demands are predicted to grow five times within the next two years.
Texas decided to become the new global mining center when the Chinese ban had come into action. According to the local government expectations, 20% of mining operations involved in the Bitcoin network maintenance will choose the state as their new location.
As for the motivating measures, the Texan officials have already adopted a set of mining-friendly conditions, including a 10-year tax abatement.
With the possibility of heavily increasing electric power demands, there appears a threat of the power capacity lack, as the locals are sure the existing grid cannot be improved more.
In October the USA has beaten China as the most favorable location for miners (for the first time in history), and Texas plays a crucial role in such statistics.
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