Welcome to the "Week in BTX" newsletter, your weekly source for all things Bitcoin and Texas. You probably saw the click bait headlines and tweets from big accounts on twitter about how the “Texas Government” just “endorsed Bitcoin” or is “proposing to allow Bitcoin as an authorized investment for the state.”
These attention seekers have no idea how the state legislative process works and are misleading you to boost their engagement.
The facts are: The Texas Work Group on Blockchain Matters released a report to expand the blockchain industry in Texas in compliance with House Bill 1576, passed by the 87th Texas Legislature.
The report was released on November 22, 2022 and contains numerous pro Bitcoin policy recommendations, including the right to hold your own keys, severance tax abatement for natural gas that was once flared but is now being consumed on-site, incentivize controllable loads like bitcoin mining, and allowing the state of Texas to purchase Bitcoin.
Digital Wildcatter’s Empower Bitcoin is the only bitcoin mining event with a focus on energy — bringing together energy, mining, finance, and other professionals in the city that powers the world.
Empower Bitcoin is March 8-9, 2023 in Houston. Use “BTX” for 10% off all tickets.
This a huge step forward and sets the stage for legislation to be passed durning the 88th Texas Legislative session that is underway in Austin. But this is not the State of Texas endorsing Bitcoin or anything else the engagement farmers tweeted.
This is the first step in the very long legislative process to pass pro Bitcoin policy in Texas. In the words of Schoolhouse Rock…
I'm just a bill work group study.
Yes, I'm only a bill work group study.
And I'm sitting here on Capitol Hill.
Well, it's a long, long journey
To the capital city.
It's a long, long wait
While I'm sitting in committee,
But I know I'll be a law some day
At least I hope and pray that I will
But today I am still just a bill work group study.
In other news, check out these great Substack authors covering the Bitcoin and energy space.
.Want to add your voice to the conversation? Sign up here for your own Substack.
General
Bear Market Vibes: Crypto lending firm Genesis Global Capital filed for bankruptcy, crypto media outlet Coindesk is for sale for $200 million+ and The Block is reportedly on the auction block.
In light of Coindesk’s sky-high valuation, Week in BTX is officially on the market for 50 Bitcoin. Serious inquiries only! 😂 😂 😂
Riot’s Pierre Rochard gave the first lecture for the first Bitcoin Protocol class at Texas A&M University. The class is lead by Professor Korok Ray and they are using Jimmy Song’s Programming Bitcoin book.
Public Policy/Politics/Regulatory
The 88th Texas Legislative Session convened in Austin for 140 days. Follow along with the #txlege hashtag on twitter. Stay tuned for calls to action.
Following in Texas’ footsteps, New Hampshire Governor Chris Sununu’s “Commission On Cryptocurrencies And Digital Assets” has recommended the NH Department of Energy create a public review of how bitcoin mining operations might be integrated into a statewide energy plan.
More than 1 in 3 members of the US Congress accepted campaign contributions from senior FTX executives. Rep. Greg Casar (D-Texas) planned to give the money to the advocacy group Fight Corporate Monopolies and Rep. Ronney Jackson (R-Texas) is donating the money to a “crisis pregnancy center” in his district.
The Texas State Securities Board joined other state securities regulators and the SEC in jointly announcing a settlement with Nexo re their offer and sale of unregistered securities in the form of the company’s Earned Interest Program. The settlement requires Nexo to pay a total of approximately $22.5 million in fines to state regulators, including $420,000 to Texas.
The US House Committee on Agriculture released names of its Republican members, including Texans Rep. Ronny Jackson (TX-13) and Rep. Monica De La Cruz (TX-15). The Ag Committee is pushing the Digital Commodity Exchange Act (DCEA) to regulate the Bitcoin and crypto space.
Mining
Bitcoin podcaster Peter McCormack is filming a Bitcoin mining film that will feature Texas Bitcoin miners Riot and Giga Energy.
The global Bitcoin mining industry is now powered by 58.9% sustainable energy according to new research from the Bitcoin Mining Council.
The ERCOT grid is powered by 40% wind, solar and nuclear.
Giga Chad provides an inside look at Riot’s progress building a 1 gigawatt, 687,500 square feet, 10 buildings, Bitcoin mining facility in Corsicana, Texas.
Events
Houston Bitcoin Meetup Jan. 26, 2023
McKinney Bitcoin Meetup Jan. 26, 2023
NAPE Bitcoin Mining Pavillion Feb. 2, 2023 in Houston
Austin Bitcoin Club Feb. 2, 2023
BitBlockBoom Fort Worth Bitcoin Meetup Feb. 8, 2023
Midland Bitcoin Meetup Feb. 9, 2023
Dallas Bitcoin Meetup Feb. 9 2023
Round Rock Bitcoiners Meetup Feb. 9, 2023
Austin BitDevs Feb. 16, 2023
Digital Wildcatter’s Empower Bitcoin March 8-9, 2023 in Houston. Use “BTX” for 10% off all tickets.
Dallas Bitcoin Meetup March. 9 2023
Austin BitDevs March 16, 2023
Bitcoin 2023 May 18-20, 2023 in Miami. Use “TEXASBITCOIN” for 10% off all tickets.
Mining Disrupt July 26-27, 2023 in Miami. Use “TEXASBITCOINALLIANCE” for 20% off tickets. applied.
BitBlockBoom August 24-27, 2023, in Austin. Use “WeekInBTX” for 10% off all tickets.
East Texas Bitcoin Alliance Meetup (Join the facebook group for details)
LinkedIn says Bitcoin and crypto job postings grew 395% in 2021: 3x the tech industry. Have a Bitcoin related job you want to promote? Reach out!
Jobs
Digital Wildcatters is hiring an COO in Houston
Oilman turned Bitcoin miner Griffin Haby is hiring a Landman
Riot is hiring for a 10-week internship program designed to empower the next generation of innovators by giving them first-hand experience in solving real-world problems
Riot is hiring Operations Manager, Electrical Field Engineer and IT Technician in Rockdale and Corsicana
Giga Energy is hiring a Director of Manufacturing and EPG Shop Technician in the Beaumont area
Poolin is hiring IT Technicians in Pecos
Core is hiring Finance, accounting and operations positions in Austin
The Blockchain Association’s job board shows 21 Texas based jobs
Bitcoiner Jobs shows 2 Texas based Bitcoin jobs
People on the Move
Send me your career moves!
Bitcoin Marketplace
I am considering adding a “Bitcoin Marketplace” section to the newsletter. Send me your feedback on this idea and what types of products and services you would find valuable. Reach out if you have something you want to list or are in search of.
Bitcoin Citadel: Bear Market Edition
The 49 acre Robinson Ranch is on the market for about 31 Bitcoin. The ranch is in Freestone County and offers a meandering creek, mature oaks and an abundance of wildlife.
To Ponder While You Wander
“We work to protect investors. And our work does not begin and end with traditional products and established markets. We are continuing to address other promoters of unregistered products, including firms that may be leveraging widespread interest in digital assets to sell unregulated, risky products.” - Texas State Security Board Enforcement Director Joe Rotunda