A Texas state bill that would have limited bitcoin miners' participation in cost-saving grid programs has not moved past a committee in the state House of Representatives, meaning its progress has been halted.
Bill SB 1751 passed through the state Senate unanimously in April. It would have limited bitcoin miners' participation 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 news that the bill wouldn't pass the House was tweeted by Dennis Porter, an advocate that has been heavily involved in the bill's process. "This win ensures that energy innovation will continue to grow" in the U.S. and "highlights the power of the bitcoin community," Porter said in a statement to CoinDesk.
The statement emphasized the importance of the campaign mounted against the bill by Porter's organization, the Satoshi Action Fund, as well as industry groups Digital Chamber of Commerce and Texas Blockchain Council.
A House committee that would have recommended the bill to the full legislature never voted on it, the statement said.
Texas is one of the biggest mining hubs in the world, thanks to favorable regulation and cheap energy.
UPDATE (May 30, 2023, 20:00 UTC): Updates Porter's title to "advocate," removes wording saying he was the first to tweet about the bill.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.