Bitcoin mining ACTION NEWS UPDATE!!!

It's Bader-Baptly Action News Update! Your source for up to the minute! All of the presses! Electri-flying Bitcoin mining news! With your hosts, X, Bit-By-Bit and John D! And now, Bader-Baptly Action News Update!

The blockchain reaction is a semi-conductor company specializing in blockchain and privacy hardware. It's announced its raise of $70 million in a series C funding round, led by Morgan Creek Digital with this round.

The total funding for the company has now reached $115 million, which will be used to expand engineering and development teams. This will include the deployment of Enterprise Grade A6. On a recent interview, Mark Uscow of Morgan Creek Digital stated,

"We also have a chip business, an Israeli firm that makes chips called Chain Reaction. He claims chain reaction made A6 will be significantly faster than Bitmain." They also claimed they're going to be so fast and so efficient that they caused Intel to shutter the group that was competing with them.

According to Uscow, Intel gave up and said they weren't going to spend any more money on the production of their own ASIC chip program and they shuttered the team. Is Mark Uscow thudding his competition or is Intel actually shat themselves?

Either way, miners win when ASIC manufacturers compete for efficiency gains. We'll keep you updated. Well, that's making a splash. The stars at night are big and bright deep in the heart of Texas, but you know what else is big and bright.

The Lone Star states tax abatement programs for large Bitcoin mining operations. That's right, they're bigger than a long horn, bulls balls and brighter than a rodeo clown smile. Texas Senate Bill 1751 is causing a stir among the big shot mining operations.

It aims to regulate unregistered load usage by mining facilities. And you know what that means, right? It's time to register those loads, boys. Not those kind of loads, electricity loads.

For the uninitiated, the Aircott Demand Response Program is a voluntary program that incentivizes businesses and consumers to reduce their electricity usage during times of high demand. Participants agree to reduce their energy consumption during specific periods in exchange for financial incentives.

This program is overseen by the Electric Reliability Council of Texas, Aircott. Which manages the state's power grid? Bitcoin mining can be an excellent fit for demand response programs as it can help absorb excess energy during low demand periods.

Additionally, it can act as a flexible load that adjusts energy usage based on grid conditions. By participating in demand response programs, Bitcoin miners can help balance the grid. They can create renewable energy resources and create a sustainable financial system that is less reliant on traditional fiat infrastructure.

During a recent hearing on this bill, Lee Bratcher, the President of Texas Blockchain Council, testifies about the responsible interconnection of miners in the large flexible load task force.

In summary, Mr. Bratcher poses that currently only about 10% of the 30,000 megawatt of large flexible load is coming to the grid. There are currently 2,000 megawatts of Bitcoin mining in Texas, but this is expected to increase to 3,000 megawatts by the end of the year.

Bitcoin miners are highly price responsive, and 96% of mining shut off during an Arctic blast in December, as covered by Puebla Minor Monthly Episode 2, limited the participation of Bitcoin miners in demand response and ancillary services could increase costs for consumers, as if they don't pay enough already.

Mr. Shard, the Vice President of Research at Riot Platforms, delivered a speech on demand response issues, stating that the bill would override a long-term study by ERCOT. He believes that Bitcoin mining is good for rural education and has been effective at revitalizing communities.

Furthermore, he argues that it is a matter of national security to mine more Bitcoin in the U.S. and take market share away from foreign adversaries. He recommends voting against SB 1751 and emphasizes that Bitcoin is "freedom money" that empowers people to earn, save, and spend money without relying on governments or central banks.

Nothing we didn't already know. Speaking of loads, no, once again not that kind of load, Bledbinder Monthly contributor, Bitcoin base load, expresses concerns that the bill does not clearly define demand response activities and only implies emergencies.

He believes that the bill will create more pro-ration for emergency responsive services. Now, there's a possible silver lining for smaller mining operations here. If regulations are imposed, that could increase the costs for big-shot miners, thereby creating a competitive advantage for the little guys.

It's like if the Dallas Cowboys play against a Pee Wee football team and the refs call the Cowboys for holding a few extra times. Every little bit helps. I can't help you though if you don't like my football analogy, best I got, and search your own sports ball analogy here.

Live in the Republic of Tejas, be sure to contact your state senator or representative to offer your opinion on the matter. The bill's sponsors are Lois Kolkhurst, Donna Campbell, and Robert Nichols.

This just in, Senate Bill 1751 has left the committee on business and commerce, with full support from its members, and is now headed to Texas State Senate vote.

Thanks for tuning in. I've been John Dee, and I've been Max. See you next week, fuckers!