Denton Municipal Electric talks to BTC miners. A new era of the cryptocurrency mining industry

Texas electricity provider Denton Municipal Electric (DME) is talking to several mining companies looking to launch operations in the region. This is a five-year contract for powering a bitcoin mine.

Denton Municipal Electric from Texas is in talks with cryptocurrency miners

On February 16, DME announced that it was talking to several companies from the mining market. The names of these companies were not provided. However, we know that these talks have been going on for a year. This is about a potential five-year cooperation.

If all goes well with the conclusion of contracts, these companies will follow in the footsteps of Core Scientific, a company that has already signed an agreement with DME to establish a new BTC mine in Denton, Texas. Now the idea is to create a “modular data center” capable of handling up to 20 megawatts (MW).

DME, operating since 1905, is a not-for-profit company that supplies energy to 64,000 customers using renewable energy sources.

The report shows that thanks to the potential new cooperation, Denton can increase its revenues by approximately USD 4.8 million over the entire cooperation period.

The new capital of mining in the USA

Texas became a new mining center after a large number of miners began to flee from China (after Beijing banned such activities) and Kazakhstan (there were problems with access to electricity). Foundry USA, the largest mining group in the world, indicated that by the end of 2021 Texas had a share in the generated hashrate of the Bitcoin blockchain in the US of 8.43%, but by July 27, 2023 this value had increased to as much as 28, 50%.

However, there are some discrepancies when it comes to the number of BTC mines that operate in Texas. The Texas Blockchain Chamber lists over 30 locations where bitcoin is mined in its report. It indicates their total capacity at approximately 2,400 MW. The Texas Comptroller's Office, meanwhile, points to only 27 such facilities.