Post
Topic
Board Bitcoin Discussion
Re: Mass Influx of Bitcoin Miners are Coming to Texas
by
Obito
on 27/06/2021, 04:21:04 UTC
I’m not some expert on where electricity is cheapest and where the political situation is most stable for the relocation of all these Chinese refugee miners, but like this at first, I wouldn’t agree that Texas (US) is the best option they can choose at the moment.

The first reason I think this is that the US can start copying China's moves at any time, because some American politicians are quite openly against any cryptocurrencies and strengthening their infrastructure in relation to what already exists. In other words, the US should not be considered a country that absolutely supports cryptocurrencies, which definitely poses a risk to all those who see it as a new safe location to house their mining farms.

The second reason is that Texas does not have nearly enough resources to meet all the needs of such a demanding industry, because that state even now has occasional problems with power shortages. This happens not only in the summer, as is the case now, but also in the winter months - so the question arises as to how the new crypto mining farms would affect the pre-existing problem that Texas is currently facing?
I want to add something besides the ones that @Lucius listed that I believe is an additional reason why there is an influx of refugee miners in Texas, I believe that they move specifically to Texas because that's where Elon is going to build his rumored tech city and didn't he plan to made some mining in that city too? Another reason that might not be right is that Texas is in-between East Coast and West Coast which means that the miners can easily travel anywhere they want to in a shorter amount of time plus I think the taxes in Texas is not that high from what I have heard.