Ding dong, the witch is dead! Which old witch? The wicked witch! Formerly known as SB 1751, this legislation would have raised energy prices and directly discriminated against Bitcoin mining in Texas. We brought this up in our weekly email a little less than two months ago and are elated to report this bill never made it to the House. Hopefully we’ll continue to see more pro-innovation legislation across the country. There’s been so much uncertainty about mining regulation that even Coinbase has been looking outside the US. Imagine if Google left the US in 1999.
Another cause for celebration: Yesterday, Hong Kong opened crypto trading to retail investors. This gives potentially about 7.5M more people access to crypto, another notable step towards mass adoption. If it goes well in Hong Kong, this could catch on in other parts of China, too. China’s been very wishy washy towards crypto, so it could go either way, really.
Historically, June hasn’t been a stellar month for crypto, but we’ll see what this June brings us. Knock on wood, it couldn’t possibly be worse than last year (remember?). Pay attention to the US monthly job report that should come out today, it’ll impact inflation for sure. The Feds may consider another rate hike mid-June. *Insert collective sigh here* and remember to take your #copium and #hopium daily.
Also, historically speaking, when we post a Split Share, they’re nearly immediately sold out, which is the case at the moment. Keep a look out for them frequently, because they go fast!
As always, keep mining, rain or shine.