> One would think, but Biden is looking at imposing a 30% excise tax on crypto miners. This is directly targeted at Texas, to slow further development and growth in that state.
It's not about targeting Texas.
It's because the economic value returned to society (in GDP, jobs, etc) from the energy consumed by crypto is less than for energy consuming activities like manufacturing, especially considering the environmental cost of generating that power (which won't all be renewable for a while).
This electricity-hungry onshore manufacturing boom is being boosted by legislation like Biden's CHIPS act, which is a big thing in Texas, and is being heavily promoted by Texas's governor:
It's not about targeting Texas.
It's because the economic value returned to society (in GDP, jobs, etc) from the energy consumed by crypto is less than for energy consuming activities like manufacturing, especially considering the environmental cost of generating that power (which won't all be renewable for a while).
This electricity-hungry onshore manufacturing boom is being boosted by legislation like Biden's CHIPS act, which is a big thing in Texas, and is being heavily promoted by Texas's governor:
https://gov.texas.gov/uploads/files/business/Texas_CHIPS_Act...