U.S. state legislators Mississippi and Missouri introduced bills to legally protect the rights of their citizens to operate a Bitcoin node and mine BTC.
Excerpt from Missouri Bill
Bills have been pushed through the respective state houses and senates, with Sen. Josh Harkins (R) and Rep. Jody Stevenson (R) leading the movement within Mississippi. Rep. Phil Christofanelli (R) of Missouri submitted his respective bill to the House. The bills of both states use the language of Satoshi Equity Fund. Among the explicit rights for nodes and mining, the bills also contain language prohibiting:
- State political subdivisions create requirements that are inconsistent with other data center requirements and change the zoning of bitcoin miners without notice.
- Prohibition of discriminatory energy tariffs aimed at bitcoin miners.
- Sound ordinances for mining facilities that are inconsistent with other sound ordinances within the community.
- Exploitation nodes or miners being considered as the act of transmitting money.
Just yesterday, a commission in New Hampshire recommended that the state Department of Energy investigate how bitcoin mining could be integrated into energy grids across the state. In addition to this recommendation, a published report in November 2022, addressed to members of the Texas legislature, recommended making bitcoin a permitted investment for the state, while providing tax incentives to local BTC miners.
“I see an opportunity for states that have been left out of the tech boom to have a real shot at participating in the Bitcoin boom,” commented Dennis Porter, CEO and Founder of Satoshi Action Fund. “Mining facilities are often built in rural areas of the United States. We hope that Missouri and Mississippi will see this potential and start opening their states to Bitcoin mining companies.
The reports all attest to the growing interest of states across America in how they can benefit from bitcoin adoption and the use of bitcoin mining in their energy grids. Political action continues from people like Bitcoin Policy Institute and the Satoshi Action Fund contribute greatly to the training of legislators.
“Now that these bills have been drafted and introduced, we need to continue the process of educating elected leaders in the state of Mississippi,” Porter said.
Regarding the concerns expressed by Bitcoiners regarding the consolidation of hash rate in North American jurisdictions, Porter said that “mining consolidation is a concern, but it’s much less of a concern than node consolidation. The nodes and users of the Bitcoin network are the ones in control, the Blocksize Wars have proven that. However, extreme mining consolidation could become a risk. At Satoshi Action, we strongly support hash rate growth outside of the United States and North America.
Eric Peterson, director of policy at the Satoshi Act Fund, also worked to advise Mississippi. He explains how “Due to its unique characteristics, Bitcoin miners are looking to expand their footprint in the state. Lawmakers can see the opportunities these miners bring, especially in terms of job creation in rural areas.
If the bills pass, they could help increase interest from state governments, which Peterson appears to be relying on. “The most important concept for lawmakers to understand is that Bitcoin isn’t going away any time soon,” he said. “Even if states don’t support the industry, they need to have a functioning regulatory structure and ensure that companies that operate in that state can do so for the long term in their state.”
