Mississippi lawmakers have successfully passed new laws to protect the rights of bitcoin (BTC) miners and node operators.
The Mississippi Senate has passed a new bill that, if it becomes law, may both legitimize bitcoin mining activities and safeguard the rights of node operators in the state.
The senators saw the “Right to Mine” bill, which was first proposed by Sen. Josh Harkins in January 2023, as essential to promoting cryptocurrency-based investments in the state.
For people or businesses wishing to start proof-of-work (PoW) mining in Mississippi, it will offer legal protection.
“The State of Mississippi wants to explore the potential for digital asset mining in our state, protect the right of individuals and businesses to mine digital assets in our state and provide legal certainty for the digital asset mining industry,”
Dennis Porter, the creator of the Satoshi Action Fund, expressed his joy at the momentous occurrence by saying, “I’m delighted to have been a part of this historic milestone in Mississippi”.
The adoption of blockchain technology and its uses is moving in the right direction, as indicated by Mississippi’s new pro-bitcoin law. But not everyone supports bitcoin mining and everything it implies, with many noting the negative impact on the environment as a key worry.
British Columbian authorities stopped supplying electricity to new bitcoin (BTC) mining companies in the area in December 2022 for a period of 18 months.
Despite these difficulties, PoW mining has a promising future as the recent increase in the price of bitcoin and other cryptoassets has greatly increased BTC mining revenue.
According to YCharts, the bitcoin network hash rate as of this writing is 269.95M, up 32.12% over the previous year. Given that some analysts have already predicted that the bull season is almost here, many participants in the bitcoin mining industry have started to take strategic actions to position themselves to benefit from the coming crypto summer.
According to recent news from crypto.news, publicly traded bitcoin miners Hut 8 Mining and USBTC have teamed together to create Hut 8 Corp, a powerful company with an 825 MW capacity.
