Texas is an attractive market for commercial cryptocurrency miners due to low energy prices, deregulated energy market, and a very business friendly climate.
TMGCore has taken advantage of this competitive edge and announced plans to lauch a $60 million crypto mining operation in Plano, Texas. This project will build a 150,000 square feet facility that is capable of a 100 megawatt live power load. This will be one of the largest independently owned mining operation in the United States. TMGCore worked with an affiliate of Houston-based real estate investment firm Pinchal & Company, LLC. to develop the deal.
To understand the vast scale of this Texas based 100 megawatt crypto mining operation, consider that a 100 megawatts solar plant will generate enough electricity to power over 35,000 homes for a year.
Additionally, The Bitcoin Exchange Guide News Team reported that cryptocurrency miner Bitmain, the most dominate crpyto mining company on the global market, is in the process of sourcing and developing crpyto mining facilities in the United States with a goal of investing $100 million into US based facilities. Will Bitmain follow TMGCore’s path and come to Texas?
If you are a small miner or hobbyist (I use Honeyminer), Texas is also an attractive market. Retail electric users have the same benefits that commercial operations have and you can take advantage of the Power to Choose website. Power to Choose is the official and unbiased electric choice website of the Public Utility Commission of Texas. This website is available to all electric providers to list their offers for free. Consumers can compare offers and choose the electric plan that’s a good fit. Using the Power to Choose website today I found pricing as low as 2.6 cents per 1,000 kWh for my service area.
Another benefit to crypto miners in Texas is using utility token Grid+ to reduce your electric bill. Grid+ develops hardware and software solutions to bring next-generation efficiencies to energy markets and is based in Austin, Texas and is rolling out their alpha launch to select Texas customers in Q3 2018.
Crpyto miners like Michael McKee (Over 314,000 followers on twitter) are realizing the potential Texas offers crypto miners and are considering moving their mining operations to Texas.
Lets hope this trend continues!
