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Texas Triumphs: The Defeat of Anti-Bitcoin Mining Bill SB1751

The recent defeat of the anti-Bitcoin mining bill, SB1751, in Texas has sparked a significant discussion in the cryptocurrency industry. The bill, which was seen as a potential hindrance to the growth of the industry, has now become a symbol of victory for Bitcoin miners in the state and across the nation.


The Rise and Fall of SB1751


Introduced by Kolkhorst, Campbell, and Nichols in the 88th Legislature of Texas, SB1751 aimed to regulate and tax facilities in the ERCOT power region that demand a large load of interruptible power, specifically targeting virtual currency mining facilities. The bill proposed that the commission should require the independent organization certified under Section 39.151 for the ERCOT power region to ensure that any demand response program operated by the independent organization to respond to emergencies that provides compensation for load reductions is open to participation by a virtual currency mining facility that is registered as a large flexible load under Section 39.360 only if the anticipated demand provided under Section 39.360(b) for all facilities of that type participating in the program is less than 10 percent of the total load required by all loads in the program.


Despite the detailed regulations proposed in the bill, it did not pass, causing a stir in the cryptocurrency mining community in Texas. The failure of the bill to pass is seen as a victory for the pro-Bitcoin legislation in Texas.


The Threat to Bitcoin Mining


Bitcoin mining is an energy-intensive process. As more mining operations set up shop in Texas, the demand on the state's power grid has increased. This has led to fears that the grid may not be able to handle the additional load, especially during peak demand periods. The proposed bill aimed to address these concerns by placing restrictions on Bitcoin mining operations.


However, proponents of Bitcoin mining argue that the industry brings numerous benefits. They point to the jobs created in rural communities, the millions paid in state and local taxes, and the potential for mining operations to stabilize the grid by using excess power when demand is low.


The "Don't Mess With Texas Innovation" Campaign


In response to the proposed legislation, industry leaders, including the Texas Blockchain Council, Satoshi Action Fund, and Chamber of Digital Commerce, launched the "Don't Mess With Texas Innovation" campaign. The campaign aimed to protect the state's energy grid and oppose the anti-competitive legislation under consideration by the Texas State legislature.


The campaign mobilized opponents in Texas and nationwide, encouraging them to reach out to legislators through phone calls, letters, and social media in opposition to the bill. The campaign's success ensured that Texas could maintain its strong foothold in the Bitcoin mining industry.


Conclusion


The campaign against SB1751 has demonstrated the resilience and strength of the Bitcoin mining industry in Texas. As the industry continues to grow and evolve, it will undoubtedly face more challenges. However, the successful campaign against SB1751 serves as a testament to the industry's ability to rally in the face of adversity and protect its interests.

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