The Mississippi senate has taken a significant step in supporting the growth of Bitcoin mining in the state. The newly passed “Right to Mine” bill will protect Bitcoin miners from discrimination and recognizes the potential of the activity to drive economic growth and stabilize the energy grid.
Senator Josh Harkins, the sponsor of the bill, utilized language from the Satoshi Action Fund, a non-profit organization dedicated to educating lawmakers and regulators on the benefits of Bitcoin. The new law makes it illegal to discriminate against energy rates for Bitcoin miners and prohibits the activity from being considered money transmitting.
“Despite the bill’s passage, more work still needs to be done,” said Dennis Porter, the founder of Satoshi Action Fund. He stressed the importance of continued education and advocacy for the positive impact of Bitcoin on the economy.
Mississippi’s move highlights a growing trend among states in the United States to adopt and utilize Bitcoin for their energy networks. The country is accelerating its regulation of the crypto sector, with Bitcoin mining being a key talking point.
However, there is still controversy surrounding the energy consumption and environmental impact of mining operations. Democratic leaders are calling on environmental regulatory agencies to require mining operators to disclose their power consumption and pollution.
On the other hand, some lawmakers recognize the potential of Bitcoin as a form of currency. Arizona’s senate recently introduced a bill to declare Bitcoin a legal tender. If the bill passes, state agencies would be able to use cryptocurrencies to pay taxes and fines.
The “Right to Mine” bill in Mississippi is a positive step in supporting the growth of Bitcoin mining and acknowledging its potential to boost the economy and stabilize the energy grid. Despite some challenges, the adoption of Bitcoin as a form of currency and its use in energy networks continues to gain traction among states in the United States.