Summary
Eight blockchain associations in the U.S. have forged a new organization called the North American Blockchain Association (NABA) just before Donald Trump's anticipated second inauguration. The Texas Blockchain Council, among others, expresses optimism regarding the future of the bitcoin mining sector under Trump’s governance.
Key Details
- Eight blockchain entities have unified to form NABA.
- Lee Bratcher, representing the Texas Blockchain Council, supports Trump's bitcoin mining strategy.
- Notably, over fifty percent of the Texas Blockchain Council's financial backing arises from bitcoin miners.
The Background
With Trump's return to office looming, crypto policy groups are mobilizing. The newly established NABA aims to present unified policy advisories to federal authorities.
In the words of Lee Bratcher,
"A few years ago, Arry Yu and I advocated for improved communication between state organizations. NABA embodies a structured approach where each state body remains autonomous while coordinating efforts with others when needed."
Members of NABA
Key members include:
- Texas Blockchain Council
- Alabama Blockchain Alliance
- California Blockchain Advocacy Coalition
- Florida Blockchain Business Association
- Ohio Blockchain Council
- Pennsylvania Blockchain Coalition
- Virginia Blockchain Council
- Washington Technology Industry Association - Cascadia Blockchain Council
Bratcher, who founded the Texas Blockchain Council in 2019, noted the association is funded by large corporate memberships and contributions from the bitcoin mining industry.
As Trump’s administration gears up, Bratcher expresses confidence in a fair approach towards bitcoin mining, contrasting it with earlier administration proposals like a potential DAME tax aimed at miners.
Texas: A Hub for Bitcoin Miners
Thanks to attractive tax incentives and an abundance of energy resources, Texas has become a prime location for bitcoin mining. Significant renewable energy projects enhance the area’s capacity, allowing miners to capitalize on low wholesale electricity costs during periods of surplus supply.
Bratcher reported that Texas miners currently consume approximately 3,100 MW, sufficient to supply around 620,000 homes.
As expectations for growth present new challenges, Bratcher remains hopeful about Texas's landscape for bitcoin mining amidst evolving dynamics within the energy sector.
