This week, Argo Blockchain announced its purchase of 320 acres in West Texas. Argo will use the land to build a new bitcoin mining facility over the next 12 months and plans for the facility to be mostly powered by renewables.
The project is the latest in a stream of bitcoin mining companies extending or transplanting their operations to Texas.
Here’s a sample of the mining scene in Texas:
- Although it claims most of its machines are in Asia, Nasdaq-listed mining company Bit Digital has a small but growing presence in Texas through hosted machines maintained by Compute North.
- Riot Blockchain is piloting an immersion cooling test facility in Texas in anticipation of potentially larger scale deployment of immersion cooled mining in the region.
- Texas is also home to a Bitcoin mining data centre with a touted energy capacity of 1 GW. The facility has garnered clients like SBI holdings and GMO, two Japanese corporate giants.
- Bitmain also has a large mining farm in Rockdale, Texas.
- Layer1, a mining startup previously embroiled in legal disputes, also mines in Texas under its new CEO Jakov Dolic.
- And of course, Texas is home to HODL Ranch, a company that sets up data centers for cryptocurrency miners in West Texas.
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Texans have noticed the steadily growing presence of magic internet money minters in their state. Late last year, for example, the Texas Blockchain Council was established to foster growth among bitcoin and other cryptocurrency businesses, including miners, through common sense policy making and public-private partnerships.
And Texas should love its miners. During recent state-wide power outages, for example, bitcoin miners actually sold unused electricity back to the grid to help mitigate power shortages.