Crypto mining firm Riot Platforms is seeking to terminate “certain hosting agreements” with Rhodium Enterprises and be relieved of refunding any outstanding power credits. Crypto mining firm Riot Platforms – formerly Riot Blockchain – has taken legal action against Texas-based Bitcoin (BTC) miner, Rhodium Enterprises, in an effort to recover “more than $26 million” in…
Read more
Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them…
Read more
New Mexico is the cheapest US state to mine Bitcoin in terms of average electricity cost, while Hawaii is the by far the most expensive. It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to Bitcoin mining data resource Hashrate Index and Luxor.…
Read more
“When you target one industry the way they are with this bill, that’s bad policy no matter what the industry you’re targeting,” said Satoshi Action Fund CEO Dennis Porter. Roughly 100 people answered the call from crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund and Texas Blockchain Council to show Texas lawmakers they…
Read more
Digital asset providers would be restricted from comingling customer funds with any other type of operational capital. The Texas House of Representatives approved a bill that would require crypto exchanges to maintain reserves “in an amount sufficient to fulfill all obligations to customers” on April 20. Should the bill pass the Senate and receive the…
Read more
A Singapore-based fund manager will purchase Mawson Infrastructure Group’s Texas subsidiary and said it will participate in the state energy grid’s load response program. Crypto mining firm Mawson Infrastructure Group will be exiting Texas following an $8.5-million sale of its local subsidiary as well as lease agreements and contracts related to operating in the state.…
Read more
Senate Bill 1751 will next move to the Texas House of Representatives, which is scheduled to meet and discuss legislation on April 13. Texas lawmakers in the state’s Senate have approved a bill aimed at largely removing incentives for crypto miners operating under the seemingly friendly regulatory environment. In a 30-1 vote on the floor…
Read more
After the New York Times was accused of writing favorable pieces about disgraced FTX co-founder Sam Bankman-Fried and inviting him to speak at the news outlet’s Dealbook Summit, it is once again being criticized for publishing a “hit piece” about bitcoin mining. The article’s authors claim that bitcoin mining is harmful to the environment, while…
Read more
While Ted Cruz and Ron DeSantis attack the idea of American CBDC, Texan lawmakers propose to create a statewide one. The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital…
Read more
Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the…
Read more
