Mass Influx of Bitcoin Miners are Coming to Texas

The Chinese government's call to crack down on bitcoin mining and trading has triggered a phenomenon known as "mining migration" in the encryption circle.

Texas in the United States is an ideal destination for miners, thanks to its abundant solar and wind resources, an unregulated market, and a political stance friendly to cryptocurrency.

Despite the lack of energy reserves that led to power outages for several days last winter, Texas has one of the lowest energy prices in the world, and its share of renewable energy is growing, with 20% of the state's electricity coming from wind as of 2019. It has a loosely regulated grid that allows customers to choose between power suppliers and, most importantly, its political leaders are very supportive of encryption - the ideal condition for a miner to find a popular and cheap source of energy.