Bitcoin mining companies in Texas, US may lose the financial incentives that gave them a competitive advantage in the state. Senate Bill 1751 aims to protect the state's electric grid under peak loads, and one of the measures is utility-scale protection.

This bill may restrict Bitcoin miners from participating in a state-run demand response program, which rewards companies for giving power back to the grid when demand is high. The bill also seeks to bar "virtual currency mining from tax abatements given that the large scale of growth in virtual currency mining is already projected to occur in the state," said the bill's sponsor, Senator Lois Kolkhorst. Kolkhorst insists that the bill is a "rightsizing" measure and not punitive.

Texas-based Bitcoin miners use up to 2,100MW of the state's power, which is a 75% increase from last year. The latest power usage metric was almost thrice that of the previous year. Those who opposed the bill included the president of Texas Blockchain Council, Lee Bratcher and Riot's VP, Pierre Rochard. 

(By Andrew Asmakov)