Three years ago, bitcoin miners flocked to the state of Texas. The Lone Star State offered cheap power, plentiful supplies of renewable energy, and an accommodating regulatory climate. Some mining companies already operated there, but when China banned crypto mining in May 2021, a mass migration began. Texas was fast becoming “a Mecca for bitcoin miners,” said Greg Abbott, the state governor. But lately, the mood has shifted.
Texas residents have complained that industrial-scale bitcoin mines are driving up energy prices and destroying the quality of life of those living nearby. Meanwhile, politicians are demanding clarity over crypto mining’s impact on both the environment and
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