AUSTIN, Texas—Several U.S. states, including Texas, Wyoming and Illinois, are actively vying to attract Bitcoin mining businesses.
“U.S. states are actively seeking out mining businesses, looking for markets for stranded or unused energy (overbuilt from a past with a more active manufacturing economy). In addition, there is interest in job creation benefits, particularly in the initial setup phase of a mining operation,” Nasdaq said.
For example, senators from New York State were recently forced to withdraw a version of a proposed law that would have put a moratorium on new and expanding mining operations as the International Brotherhood of Electrical Workers reportedly lobbied on behalf of their members against the potential ban, Nasdaq explained.
Meanwhile, Texas is vying to become a new global epicenter for Bitcoin and its associated industries. And three other states — Wyoming, Nebraska and Illinois — have all introduced digital charters to allow financial institutions to transact in bitcoin, indicating that they are also open, Nasdaq said.