Texas' 'demand response' grid programs are criticized by some local residents and legislators, who say the state is subsidizing an industry harmful to the environment and local communities. egreechee reports MiningWeek, presented by FoundryServices
Riot is developing two sites in Texas, in Navarro and Milam counties, with a total energy capacity of 1.7 gigawatts . The Navarro site will be the biggest bitcoin mine in the world, the company claims.
“Most people don't understand that bitcoin miners act as great load balancers and are very complementary to the grid in Texas. They actually provide financial incentives for more renewable energy to be developed,” he said in an interview with CoinDesk. Riot noted a deferred tax benefit of $11.7 million in taxes in 2022, primarily due to changes in contingent consideration liability. The firm pays 100% of its local sales tax, it said, but is exempt from this duty on a state level, along with otherSawicky claims that Riot saves $200 million in property tax for its Milam county site, based on public records that she has requested from authorities.
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