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- “Don’t Mess With Texas Innovation” campaign defeats Senate Bill 1751.
- Effort secures Texas’ strong foothold in the Bitcoin mining sector.
Bitcoin enthusiasts celebrated recent news from Texas, where the “Don’t Mess With Texas Innovation” campaign successfully defeated Senate Bill 1751. Led by the Texas Blockchain Council, the Satoshi Action Fund, and the Chamber of Digital Commerce, the initiative was launched in direct response to SB 1751, a proposed anti-bitcoin mining bill in the state.
SB 1751 aimed to impose severe restrictions on Bitcoin mining in Texas. Its passage would have negatively impacted the Bitcoin industry and potentially increased energy prices for Texans. Given Texas’ significant presence in the Bitcoin mining sector, this legislation was particularly impactful. The campaign’s success ensures that Texas can maintain its strong position in the industry.
When Texas continues to lead on #Bitcoin mining the USA continues to win.
https://t.co/HJIn1IJZLK
— Dennis Porter (@Dennis_Porter_) May 31, 2023
https://t.co/HJIn1IJZLKBehind the Campaign’s Win
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The “Don’t Mess With Texas Innovation” initiative began in early April as SB 1751 gained momentum in the Senate. The bill progressed swiftly through committee proceedings and received a unanimous vote on the Senate floor. The campaign dedicated significant efforts to educating the public about the detrimental consequences of the legislation.
Dennis Porter, CEO and co-founder of the Satoshi Action Fund, stated:
“This win ensures that energy innovation will continue to grow in America and ensures we lead the world in Bitcoin mining. Most importantly, this win highlights the power the Bitcoin community has when we unite to push back against bad policy. It demonstrates that our community and industry can achieve victory when we work together.”
Campaigners emphasized the economic significance of the Bitcoin mining industry for rural communities in Texas. They highlighted that the industry employs 22,000 Texans and that Bitcoin miners contribute to the stability of the Texas ERCOT grid by providing critical grid-balancing services during emergencies.
While Bitcoiners celebrate this victory, concerns remain regarding the environmental impact of mining. Nonetheless, the outcome promises positive effects on the economy, environment, and grid stability.
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