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.
Let's have a competition, who would be more predictable and more stable long term:
Putin's Russia, Kazachstan, or the US?
And even if the US would try to ban bitcoin mining, from the moment the law is proposed till it will take effect we will see at least two halvings.
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?
There is a huge difference in sending power to 1000 cities and towns across the grid and a far simpler thing to feed a datacenter that is one mile from the power station. The problems in Texas are not because of the capacity, it produces most electric energy in the US they actually produced more than 71TWh than they consumed, Kazakhstan has produced 107 in total!
Texas state have some of the lower electricity prices in United States so I am not surprised to see this news, but there are other benefits including lower taxes for moving Bitcoin mining operations there.
I checked out electricity prices in other US states and Florida also have decent price of average 11.65 cents per kilowatt hour, compared to Texas 11.36 cents per per kilowatt hour in May 2021.
You're looking at the averages for residential consumers in a state bigger than some countries, averages don't mean a thing.
It's industrial rates that matter:
https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a