Texas has become the top state for Bitcoin mining in the US, with a hash rate share of 28.5%, according to data from Foundry. This is a significant increase from the 8.4% share estimated in 2021. The state has made mining attractive through government incentives and compensates firms for participating in stabilizing the electricity grid. Other states, such as New York and Georgia, have seen their respective shares decrease, while Foundry believes its estimate for Texas may actually be low. The University of Cambridge plans to update its mining map by early next year.

Texas, the largest power producer in the US, is also a major hub for bitcoin mining, with 1.5 GW of mining as of August 2022. The Electricity Reliability Council of Texas has been criticized for using economic incentives to align miners' interests with those of the public, as local residents and legislators claim that the state is subsidizing an industry that is harmful to the environment and local communities. Riot Platforms, one of the largest bitcoin miners in the world, is facing scrutiny for developing two sites in Texas with a total energy capacity of 1.7 GW, which could power 340,000 Texan homes in the high demand season.

July 4 (Cointime) - Bitcoin mining company Hut 8 is relocating 6,400 rigs from its facility in Ontario, Canada to Texas due to increased demand for AI and high-performance computing. This move is part of the company's plan to revive its operations after facing hurdles, including a legal dispute with energy supplier Validus.

June 21 (Cointime) - Iris Energy, a Bitcoin miner listed on NASDAQ under the ticker IREN, has announced plans to increase its hash rate capacity by 63% to 9.1 exahashes per second (EH/s) by early 2024.

June 21 (Cointime) - Shares of Bitcoin miner Iris Energy have risen by almost 20% following news of its planned expansion to 9.1 exahashes/second (EH/s). The company aims to expand its capacity by 63% by early 2024 and revitalize its high-performance computing (HPC) data center strategy.

The 88th legislative session in Texas has been beneficial for Bitcoin miners, with the passage of several bills that will likely keep the state attractive for miners. One bill, SB 1751, which sought to curb energy credits for miners, did not make it to the Governor's desk. Another bill, SB 1929, which passed, requires large Bitcoin mines to register with the Electric Reliability Council of Texas (ERCOT) and is seen as a necessary step toward enhancing transparency.

A group of criminals attempted to steal a Bitcoin ATM in Texas using a stolen pickup truck, causing $10,000 worth of damage. The Houston Police Department arrested seven suspects who crashed the truck into a smoke shop window in the southwest of the city. The group was unable to steal the ATM, but they did steal various tools from the truck's owner. Bitcoin ATMs have been targeted by thieves in the past, and they are also the target of online hackers looking to steal crypto being exchanged.

On May 11th, Texas lawmakers passed an amendment to the state's Bill of Rights which guarantees the right to own, hold, and utilize digital currency. The bill affirms the right of individuals to engage in trade and contractual agreements using different mediums of exchange, including digital currency. If passed and signed into law, this update to the Texas Bill of Rights will not only protect existing fundamental rights but also grant residents the explicit right to utilize cryptocurrencies. The Texas Constitutional Enforcement group argues that incorporating digital currency into the Texas Bill of Rights plays a vital role in preserving the financial privacy of Texas residents and preventing dependence on global financial elites.

Texas has followed Florida's lead in introducing a bill to ban Central Bank Digital Currencies (CBDCs) within the state. The bill highlights concerns about the potential risks associated with retail CBDCs, including government surveillance, control over private financial transactions, and transaction monitoring. Despite opposition to CBDCs, two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold. The bills propose that a fractional equivalent amount of physical gold would back the proposed digital currency, and the introduction of these bills indicates that some U.S. lawmakers are exploring alternatives to CBDCs.

Texas lawmakers have voted overwhelmingly to amend the state's Bill of Rights to include the right for individuals to possess, retain and use digital currencies. The bill, introduced by State Representative Giovani Capriglione, received 139 votes in favor and only two against. The amendment aims to protect Texans' financial privacy and allow them to use alternative currencies to safeguard their wealth from an unstable dollar. The inclusion of digital currencies in the Texas Bill of Rights is also intended to make a legal argument in the federal judiciary invoking the 9th Amendment to the U.S. Constitution, which recognizes natural rights beyond those explicitly listed in the first eight amendments.