Texas – The Texas Senate passed a bill that will cap how much bitcoin (BTC) miners can participate in demand response programs, under which they get paid to curtail their operations at times of high energy demand.
Bill SB 1751 passed the Senate with only one vote against and is now heading to the House. If approved, it will have to be signed into law by Texas Governor Greg Abbott.
The bill aims to limit bitcoin miners participating in demand response programs – under which they get paid in credits to turn off their operations when the power grid sees a surge of demand – to 10% and abolish tax abatements for the industry.
The House vote is expected to be more contentious, in part because bitcoin miners have cranked up their advocacy against the bill.
Three lobbying groups including the Texas Blockchain Council, the Chamber of Digital Commerce, and Satoshi Action Fund launched a campaign against the bill on Monday, which they say is “anticompetitive.”
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