TEXAS SENATE COMMITTEE HEARS EVIDENCE ON BILL
Pierre Rochard, VP of exploration at Riot Platforms witnessed history that Bitcoin is a net positive for the state.
Yesterday, the Senate Committee on Business and Commerce heard evidence on a Texas bill banning variable load deals between bitcoin miners and energy suppliers.
The law prohibits energy suppliers like ERCOT from paying bitcoin miners to shut down their plants, freeing up energy for crises and peak demand.
Riot Platforms Vice President of Research Pierre Rochard stated that the firm benefits rural towns, jobs, and energy output in Texas.
Rockdale’s top job is bitcoin mining. Bitcoin miners are Rockdale ISD’s top taxpayers. Bitcoin mining helps rural education.”
Even if you doubt bitcoin, these abatements have revitalized rural towns.
State Senator Lois Kolkhorst, the bill’s author, cites the state’s aim of growing energy output and the mining industry’s use of this energy and ERCOT cutoff agreements as “a part of their business model.”
Bitcoin mining may enhance green energy output rates, which make up a rising part of the state’s energy,