Texas Governor Greg Abbott Addresses How Bitcoin is Good for the State’s Power Grid

Following China’s decision to ban all forms of cryptocurrency, Bitcoin mining companies were forced to leave the country. For a time, the face of cryptocurrency mining was led by China. But things didn’t turn out how we had hoped. 

Numerous mining firms were looking for a location to settle, but the process was difficult due to strict rules, neighborhood lawsuits, and even pollution worries. Texas was seen as supporting the mining industry, whereas some US states still forbade it.

In one of the recent clips shared by the Twitter account Documenting Bitcoin, the governor of Texas, Greg Abbott, is seen expressing his views on Bitcoin.

Bitcoin is good for the state’s power grid, says Abbott

Abbott stated that Texas is promoting Bitcoin, advancing it, and providing a platform for it. He also stressed that “Bitcoin is the cutting edge of innovation in the world.”

The governor of Texas envisions the future utility of Bitcoin and wants Texas to be the headquarters of that future. Abbott highlights that Texas is providing a platform for those who are involved in Bitcoin and making sure that they have a location to come to. “We will continue advancing in Bitcoin and blockchain.”

In a question by the interviewer on what he is doing to make Texas a Bitcoin country, Abbott had the perfect response. ” We created a working group to make sure that we are focused on the type of legislation that will make it more inviting. We don’t want to be over-regulatory and want to be anti-regulatory.”

Abbott also highlights that Texas has an independent and open power grid. This, according to him, is different compared to the other states that have a single utility program.

The natural resources are also very important, even though Texas’ pro-Bitcoin officials have embraced Bitcoin mining projects in the area. The energy-consuming Bitcoin mining process would greatly benefit from the addition of renewable energy sources like solar and wind power. Over the next few years, Texas is likely to become the world’s center for Bitcoin mining.