The Epoch Times
Texas has turned into a mecca for Bitcoin and other cryptocurrency miners over the past year.
It might not appear to be a likely location for virtual token mining, but crypto professionals and billions of dollars in capital are flooding the southern state. This has led to a growing number of cryptocurrency communities across the state—and not only in Austin, Texas, which has been dubbed as a sort of Silicon Valley 2.0 in recent years.
But why is Texas the primary beneficiary of the “great mining migration?”
Energy rates have been a significant factor in the Lone Star State’s crypto boom. Texas’s energy rates are currently ranked as the seventh-lowest in the nation, with the annual average price per kilowatt-hour of 8.36 cents, ahead of North Dakota’s 8.53 cents and behind Nevada’s 8.33 cents.
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