Blockcap founder: “Texas is the best region for mining development”

Blockcap mining company founder Darin Feinstein announced the opening of new mining farms in Austin, calling Texas the most attractive region for industrial mining.

In an interview, the executive chairman of Blockcap said he chose Texas to build mining farms because of its talent pool and strong regulatory framework. Blockchain and cryptocurrency firms may face less geopolitical risks in Texas than in China or elsewhere, Feinstein said. He explained that the Texas authorities are more loyal to the mining of cryptocurrencies and blockchain technology in general, without interfering with the protection of privacy.

For example, some Chinese provinces attract bitcoin miners with low electricity costs, but this does not mean that such activities are welcomed in such regions. Sometimes, Chinese energy companies can restrict miners’ access to electricity, forcing them to move to other jurisdictions.

As for the United States, mining companies find support here even from legislators. According to Feinstein, Texas Governor Greg Abbott has made the state the “hub of development” for blockchain and cryptocurrencies. Last month, Abbott announced the need to adapt commercial law and develop appropriate regulations to create conditions for the development of mining, blockchain and cryptocurrencies in Texas. Wyoming lawmakers are also actively working to promote innovation with a proposal to legitimize Decentralized Autonomous Organizations (DAOs).

Recall that in recent months, Blockcap has made several purchases of ASIC miners from the Chinese manufacturer Bitmain. So, in February, Blockcap announced the acquisition of 10,000 Antminer S19 miners, and in March it bought another 12,000 of the same devices to increase its hashrate.