See More

From Missouri to Texas: Southern US Becomes Bitcoin Mining Hotspot

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Missouri's new bill aims to equalize power rates and location access for Bitcoin miners to foster industry growth.
  • State Rep. Christofanelli proposes protections for Bitcoin mining against restrictive local noise ordinances.
  • CleanSpark expands with new Bitcoin mining sites in Mississippi while Riot makes progress on new $333M Texas facility.
  • promo

The latest legislative proposal from State Rep. Phil Christofanelli aims to establish Missouri as a welcoming hub for Bitcoin mining.

This initiative aims to bolster the local economy while positioning Missouri alongside other progressive states in embracing digital assets.

Bitcoin Mining Bill Aims to Open the Door

Christofanelli’s bill, steeped in forward-thinking, proposes a unique approach. Its goal is to treat Bitcoin miners just like any other player in the energy sector.

He explained,

“Our state should welcome this type of new and innovative currency into the marketplace. We just want asset miners treated like everybody else in the energy economy.”

This sentiment reflects a growing recognition of the potential economic benefits that Bitcoin mining can bring to a region.

Read more: How To Mine Cryptocurrency: A Step-by-Step Guide

A pivotal aspect of the bill is the emphasis on fair play. It seeks to prevent the Missouri Public Service Commission from setting exorbitant power costs for cryptomines, a move that resonates with the principle of equality.

Christofanelli concluded,

“We’re trying to look ahead, and we want Missouri to be a crypto-freedom state. And we’re going to lead the country on this.”

Southern States Lead the Pack

Amidst this legislative endeavor, the cryptocurrency industry is witnessing substantial growth in other parts of the United States. CleanSpark, a Bitcoin mining giant, recently expanded its operations with the acquisition of three mining facilities in Mississippi for $19.8 million.

Zach Bradford, CEO of CleanSpark, commented on the expansion,

“With the addition of Mississippi to our portfolio, we are gradually increasing our geographic diversity.”

This move is a testament to the industry’s resilience in the face of regulatory challenges and its ongoing commitment to innovation and growth.

Similarly, Riot is making headlines with its ambitious project in Corsicana, Texas. The company is investing approximately $333 million in a 1 gigawatt Bitcoin mining facility, reflecting a significant leap in infrastructure and capacity.

This development is set to create numerous jobs and drive economic growth. This also showcases the industry’s ability to contribute positively to local communities.

Missouri’s legislative efforts paint a picture of a flourishing industry ready to redefine economic landscapes. As states like Missouri look to foster a conducive environment for crypto enterprises, the industry continues to evolve, demonstrating its potential as a significant player in the modern economy.

Top crypto projects in the US | April 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Harambe AI Harambe AI Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.