cryptojournalist
Mandatory Reporting for Miners
Bitcoin miners in Texas must now register with the state and provide details about their operations, including location, ownership, and power needs. This new rule, set by the Public Utilities Commission of Texas (PUCT), aims to help ERCOT, the state’s power grid operator, manage rising energy demands.
Miners must register within one day of connecting to the grid and renew annually by March 1. Failing to comply could lead to fines of up to $25,000 per day.
Texas: A Crypto Hotspot
Since China banned crypto mining in 2021, Texas has become a popular destination for miners, thanks to its energy supply and crypto-friendly policies. PUCT Chairman Thomas Gleeson said the rule ensures ERCOT can maintain reliable electricity for everyone.
Ted Cruz: Bitcoin’s Advocate
Senator Ted Cruz is pushing to make Texas a global leader in cryptocurrency. He opposes federal control over Bitcoin, calling it a decentralized asset that governments can’t control.
Cruz credits the state’s supportive stance and the upcoming Trump administration for attracting miners and innovators to Texas, creating jobs and boosting investment.
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