Mississippi Senate passes bill to legalize crypto mining

Lawmakers from the Mississippi Senate have passed a legislative bill to legalize Bitcoin mining in the state and protect miners from discrimination.

The Mississippi digital asset mining bill was introduced to the house by Senator Josh Harkins. The lawmaker explained that the mining sector has the potential to stabilize the power grid and provide revenue for infrastructure projects across the state.

Following due deliberation, lawmakers from the Mississippi Senate on Jan.9, passed the legislative bill required to legalize crypto mining in the state.

“It shall be legal in the State of Mississippi to run a node for the purpose of home digital asset mining” and “operate a digital asset mining business.”

According to the bill, miners are allowed to set up their rigs in industrial areas without discrimination of any kind.

The bill makes it illegal to impose discriminatory energy rates on mining businesses. In addition, miners will be protected from being considered money transmitters.

The Mississippi digital asset mining bill is expected to take effect from July 1, 2023, following further approval from the House members and state Governor.

Crypto Mining in the U.S.

China’s ban on mining activities helped to speed up the concentration of Bitcoin miners in the U.S.

CryptoSlate report revealed that two mining pools in the U.S. (Foundry and Antpool) control over 51% of the global hash rate.

Over the years, Texas has remained a choice destination for miners, with about 30 mining companies reportedly operating in the state.

However, some U.S. lawmakers are pushing to have mining operators disclose their power consumption rate to regulatory agencies.

Anti-crypto lawmaker Elizabeth Warren had initiated a probe against the Electricity Reliability Council of Texas (ERCOT) for allegedly paying miners to offset energy load.