Texas Lawmaker Introduces Bitcoin Mining Bill

A Bitcoin mining bill proposed by Texas House of Representatives member Cody Harris is causing controversy. The bill acknowledges the right to mine Bitcoin in the state, despite growing concerns over its environmental impact and resource consumption.

Harris has called on fellow lawmakers to “express support for protecting individuals who code on the Bitcoin network.” Texas has become a popular location for crypto mining, especially after China’s ban on the activity. The bill states that individuals mining Bitcoin in Texas will not be restricted by any law or resolution, and those owning or using Bitcoin should “feel free and safe.”

The bill’s primary focus is on establishing sentiment around Bitcoin and mining, rather than making significant changes to regulations. It must pass through the House, Senate, and Governor’s office to be enacted.

Texas accounts for 11.2% of Bitcoin’s total hash rate, with the United States as a whole representing 37% of the global hash rate. The expansion of crypto mining in Texas has led to increased power bills and concerns about the state’s failing power grid.

Protests have erupted in response to Bitcoin mining in Texas, with one instance occurring at a Riot Blockchain mining site in Navarro County. Protesters voiced concerns about the consumption of resources due to mining activities.