Bitcoiners are elated by the recent breaking news breaking out of Texas. The “Don’t Mess With Texas Innovation” campaign triumphed by successfully defeating Senate Bill 1751. The Texas Blockchain Council, the Satoshi Action Fund, and the Digital Chamber of Commerce led the campaign. It was released in response to SB 1751, an anti-bitcoin mining bill in the state of Texas.
SB 1751 was intended to place severe restrictions on Bitcoin mining in Texas. It would have had negative implications for the Bitcoin industry and increased energy prices for Texans. It is worth noting that Texas has a significant presence in the Bitcoin mining sector, which makes this legislation particularly impactful. However, the success of the campaign ensures that Texas can maintain its strong position in the Bitcoin mining industry.
Behind the campaign victory
The “Don’t Mess With Texas Innovation” initiative sprang into action in early April when SB 1751 gained momentum in the Senate. The bill progressed quickly through committee procedures, eventually receiving a unanimous vote on the full Senate. The campaign devoted significant efforts to informing the public about the harmful consequences of this legislation.
Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund, said:
“This victory ensures that energy innovation will continue to grow in the United States and ensures that we lead the world in Bitcoin mining. Most importantly, this victory highlights the power the Bitcoin community has when we come together to fight bad policies. It shows that our community and industry can achieve victory when we work together.”
Activists stress the economic importance of the Bitcoin mining industry to rural Texas communities. They note that the Bitcoin mining industry employed 22,000 Texans. And that Bitcoin miners contribute to the stability of the Texas ERCOT network by providing critical balancing of the network services during emergencies.
As bitcoiners celebrate this victory, concerns are being raised about the environmental impact of mining. However, the victory promises positive effects on the economy, the environment and the stability of the network.