Miners have flocked to the state since China banned mining in 2021, encouraged by cheap energy, grid incentives and an alignment of values. “Bitcoin is all about freedom,” says one miner. “And in my dealings with the utilities and the regulators, Texas is all about freedom.”
Easy, by subsidizing the negative externalities!
The same way cars are possible
Privatized profits, socialized risk - wonder how miners are faring this summer with the grid instabilities