bitcoin mining farms are being set up in the areas like Rockdale and Pyote of Texas. Bitmain is the biggest mining firm in North America containing its operation on 33000 acres of land, has announced to invest $25 million for a new data center in Texas. Argo Blockchain is planning to buy 350 acres of land by the end of 2021 for mining operations.
Texas has become a hot spot for miners after china’s ban on bitcoin mining. China banned crypto mining because they have promised the world to be carbon-free by 2060. Whinston Inc, the biggest crypto mining firm in the United States sees Texas as its home and soon will be joined by miners from across the globe. After China’s ban, Texas can be a global hub for bitcoin mining farms.
Texas is a suitable location for mining due to its crypto-friendly officials in the system. John King, the mayor of Rockdale is not only a supporter of cryptocurrency but a miner himself. Although he admits that he isn’t very successful at mining and can’t afford to buy hard drives. The mayor has supported many crypto-friendly laws and talked to many miners who were interested to set up bitcoin mining farms in the area.
Why Texas For bitcoin mining farms?
Texas is known for its resources of oil and gas which means low electricity rates. Texas is a “deregulated electricity landscape” which means people can choose their electricity provider. 20% of electricity is obtained from the windmill plant which again guarantees low electricity rates. Many miners are saying that Texas is an ideal location for bitcoin mining farms.