A number of bitcoin mining firms wishing to set up shop in Texas have expressed interest in Denton Municipal Electric (DME), a nonprofit electricity supplier.
These unidentified companies are reportedly seeking a five-year contract with DME to power their mining operations, according to a report published on February 17.
DME stated that talks over possible leases have been going on for more than a year. One idea called for building a modular data center that could hold up to 20 megawatts. If the sale goes through, Denton may make almost $4.8 million for the term of the lease.
Texas has become a major hub for bitcoin mining; estimates place the number of facilities at over 30, with a capacity of about 2,400 megawatts. Cementing its status as a mining hub, the state’s contribution to the U.S. hashrate increased dramatically from 8.43% in 2021 to 28.50% by July 2023.
As talks carry on, the arrival of additional cryptocurrencycurrency mining companies can strengthen Texas’ leadership in the sector and significantly improve the local economy of Denton.
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