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“Bitcoin mining companies serve as important employers and taxpayers in their local communities,” the report on US Bitcoin mining read.
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The Bitcoin (BTC) mining industry has already created over 31,000 jobs in the United States both directly through mining operations and indirectly through supporting industries despite being a nascent sector, a recently published report found.
According to a study conducted by the Perryman Group and published by blockchain advocacy organizations Texas Blockchain Council and The Digital Chamber, 12 US states account for the majority of Bitcoin mining activity in the country.
Texas had the most jobs created by mining of those 12 states, with over 12,200 jobs created as a direct result of Bitcoin mining and industries that support the mining sector.
The report also found that mining activities generated more than $4.1 billion in gross domestic product annually and supported local energy utility infrastructure by acting as a load-balancing resource for the electrical grid.
Mining infrastructure has taken on new importance following earlier statements from US President Trump about the US dominating the mining industry and developing electrical infrastructure for mining and AI data centers to remain competitive on the global stage.
Related: US mining companies feel supply squeeze from Bitmain shipment delays
The annual economic benefits of Bitcoin mining. Source: Texas Blockchain Council
Mining and high-performance computing infrastructure become national priorities
During the 2024 presidential campaign in the United States, then-candidate Trump repeatedly talked about making the US the” crypto capital of the planet” and establishing dominance in the AI sector as matters of national security.
Both applications of high-performance computing require significant energy input and additional infrastructure, which President Trump said is a national priority. Trump added:
“We will have power plants built at the sites. We will be releasing people from certain ridiculous requirements, and we will be using fossil fuels to make electricity because we are going to have to. We will also be using nuclear.”
According to President Trump, dominance in the mining and AI sectors requires at least double the amount of energy currently produced in the United States.
The high energy requirements have spurred tech companies and mining firms to explore alternative forms of renewable energy generation such as nuclear power.
A diagram showing energy flow in a small-scale nuclear reactor. Source: Kairos Power
In October 2024, Google signed a deal with Kairos Power — a nuclear power engineering company — to develop a small-scale nuclear reactor for its AI operations and bring the project online by 2030.
Small-scale nuclear reactors are an emerging technology that allows for nuclear reactors to be built on-site and inside of facilities. These small-scale nuclear reactors are small enough to fit in an 18-wheel truck.
Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining
This article first appeared at Cointelegraph.com News
