ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Cryptocurrencies

China's Bitcoin crackdown drives miners toward freewheeling Texas

Heavily deregulated state struggles with severe power supply issues

Known for light regulation and business-friendly environment, Texas is being seen as good alternative to China by miners.   © Reuters

TOKYO -- As China's clampdown on cryptocurrency drives miners out of a country that had dominated the industry, the U.S. state of Texas is emerging as a destination of choice thanks to cheap electricity and a more welcoming environment.

Despite its abundance of fossil fuels and wind power, however, the state is struggling with its own power supply issues.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more