Texas Bitcoin miners want tax breaks

Oil production produces gas as a by-product. Typically, this gas is burned because releasing it into the atmosphere is even more polluting than burning it.

Companies like Upstream Data are harnessing the energy potential of otherwise wasted gas to mine BTC.

The Texas Blockchain Council , a mining association , is now demanding tax breaks from the state for the sale of so-called flare gas in order to attract more miners to the Lone Star State.

The lobbyists have proposed a legal text based on Wyoming's example. There are already tax breaks for the sale of waste gas.

Texas is considered the new Eldorado for Bitcoin mining. The regulation in the state led by Governor Greg Abbot is extremely crypto-friendly, so that more and more miners in Texas are digging for Bitcoin - often with renewable energy .

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