The Frontier of Bitcoin Mining with Lee Bratcher - WBD620

Lee Bratcher is President of the Texas Blockchain Council. In
this interview, we discuss the important work of the Texas
Blockchain Council in educating decision-makers and providing a
link to Bitcoin businesses, which has helped Texas to become a
global leader in Bitcoin. We also talk about the risks of
introducing any form of CBDC.


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Texas has become the US’s home of Bitcoin, maybe the global home
of Bitcoin. A state whose motto is friendship has extended its
hand to those seeking to mine and develop Bitcoin. Why is this?
Texans are independent, hard-working, freedom-loving people. As
our guest Lee Bratcher states on the show: “The ethos of Texas
just matches up with the ethos of Bitcoin.”


But, there is a more pragmatic reason why this has happened:
Texas’s economic history shows a state that embraces opportunity.
And with Bitcoin mining, we are seeing perhaps one of the biggest
opportunities to present itself to energy grids. Governments
across the world are seeking to transition to more renewable and
volatile energy sources. And, as we have seen, Bitcoin mining
provides a range of tools to help grids in this transition.


Texas’s grid operator, ERCOT, has embraced Bitcoin mining, and as
such, it is reaping the benefits. Bitcoin mining is making the
Texas grid more resilient to peak demands, it is facilitating the
build-out of stranded energy sources, and could potentially help
keep energy prices low. A welcoming regulatory landscape and
collaborative approach to planning are resulting in Texas working
towards being the home for 20-25% of the global hashrate.


But, Texas has not woken up to the utility of Bitcoin mining on
its own. The fact the state has a dedicated Bitcoin advocacy
group is a critical factor in this story. The Texas Blockchain
Council was set up to make Texas the jurisdiction of choice for
Bitcoin. To that end, it educates lawmakers, acts as a conduit
between the state and Bitcoin companies, and actively defends
Bitcoin against attacks from senators in DC. It’s another
inspiring and motivating Bitcoin story.