This was made known in a video shared by More Perfect Union, a nonprofit advocacy organization. Reporter Dan Lieberman had conversations with residents who live less than a mile from MARA’s 300-megawatt Bitcoin mining site. The residents described their living conditions as “hellish” due to the relentless noise.

An elderly resident lamented, “The noise never ceases, the headaches never cease.” The loud hum of the Bitcoin mining operations formed a backdrop to her complaints. MARA Holdings took over the mining facility, situated close to Granbury’s outskirts, in January 2024. Compute North initially broke ground on the site in 2022 but filed for bankruptcy later that year.

Mandy DeRoche, a Deputy Managing Attorney at Earthjustice, a nonprofit environmental law group, highlighted the unique challenge of the situation. “It’s a different kind of noise pollution. It’s not comparable to truck traffic or similar disturbances. It’s a persistent, low-frequency noise specific to these operations.”

In October 2024, a group of residents who had been enduring the noise for months, and some for years, filed a lawsuit against MARA, then known as Marathon Digital. They alleged that the noise from the Bitcoin mining was causing “sensory, emotional, psychological, and health impacts,” and even worsening pre-existing conditions.

More Perfect Union’s interviews revealed that residents blamed the conditions for hospitalizations, “constant headaches,” and potentially even the death of a horse. Neither MARA nor Earthjustice had issued a response when contacted by Cointelegraph.

MARA recently announced plans to issue up to $1 billion in convertible senior notes. They plan to allocate a portion of this towards Bitcoin purchases.

The impact of crypto mining on local communities could influence future US elections. Many crypto mining executives had met with then-presidential candidate Donald Trump, which seemed to have led to his public endorsement of Bitcoin mining. These endorsements were incorporated into his campaign promises at the Bitcoin 2024 conference in Nashville.

A resident of Granbury voiced his regret over voting for Trump in 2024. “I don’t have a problem with the industry. My issue is with the harm it’s causing to people here, which I believe is being overlooked,” he said. Under Trump, the Republican-led Congress did not pass specific legislation related to Bitcoin mining. However, the administration did move forward with three bills related to stablecoins, central bank digital currencies, and digital asset market structure.

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During an interview with The Block on Tuesday, Bratcher expressed confidence that Governor Abbott would sanction the bill, following its approval by the state legislature. By Wednesday, Texas legislators had voted overwhelmingly in favor of Senate Bill 21, proposing the formation of a Bitcoin reserve.

Although cautious about his certainty over Governor Abbott’s final decision, Bratcher and his team expect the governor’s approval. “I’ve had personal discussions with the governor about this matter, and I believe he envisions Texas being at the forefront in this area,” Bratcher shared with The Block. He however refrained from making further presumptions about the governor’s stance, adding, “He will make the final decision when the time is right.”

Should Governor Abbott sign the Bitcoin bill, which Bratcher believes will reach his desk within the next “week or two,” Texas would likely become the third state to take such a step, following New Hampshire and Arizona. Earlier in March, an executive order was signed by U.S President Donald Trump to set up a “Strategic Bitcoin Reserve.”

When asked about the potential investment Texas might make in Bitcoin, Bratcher estimated a cautious initial approach. “I foresee an investment in the tens of millions of dollars. It might sound substantial but is quite modest for a state the size of Texas,” he commented. He also mentioned that the state’s comptroller, who oversees public funds’ investment and expenditure, will apply tested investment norms to decide on the buying quantity and timing.

Bratcher’s Texas Blockchain Council has been advocating for a Bitcoin reserve in the state for a while. He also revealed that the “idea” of a Texas Bitcoin reserve has been around since 2022, and he has been working with other legislators who are also enthusiastic about the state accumulating the world’s largest cryptocurrency by market cap.

With its crypto-friendly environment and numerous Bitcoin miners, Texas has always been a popular destination in the crypto world. On Wednesday morning, Bitcoin reached a new all-time high of approximately $109,400.

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The event, which took place on March 13 in Austin, Texas, was in honor of the US Strategic Bitcoin Reserve initiative. The drone spectacle included representations of a rocket launch, the moon landing, among other impressive visuals. The Bitcoin (BTC) logo in the sky was accompanied by a message stating, “Go where dollars won’t.”

In the words of the company, “In celebration of the US Strategic Bitcoin Reserve, we’ve hosted a Guinness World Record-breaking drone show. The event explores the future of money, featuring the iconic Bitcoin “₿” as the biggest currency symbol in the sky.“

Upon completion of the successful drone exhibition, Gemini was awarded a certificate for “The largest aerial display of a currency symbol formed by multirotor/drones.”

Since Bitcoin’s inception over 16 years ago, the logo has seen several alterations, primarily based on community feedback. Satoshi Nakamoto, the creator of Bitcoin, presented the first logo as a gold coin with “BC” text in the center. However, on February 24, 2010, Nakamoto replaced the “BC” with “₿.”

The logo was released as a copyright-free image and soon became the accepted symbol for Bitcoin. On November 1, 2010, a Bitcoin community member named bitboy (not related to YouTuber BitBoy Crypto), created a new version of the Bitcoin logo. This rendition received vast acceptance from early Bitcoin enthusiasts, and hence, bitboy’s design is still the official Bitcoin logo.

The revised logo discarded the gold background for a vibrant orange hue and featured Nakamoto’s “₿” logo tilted clockwise by 14%.

Read Cointelegraph’s in-depth BTC origin story for more insights into the evolution of the Bitcoin logo.

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Introduction

The Lone Star State is taking the reins in cryptocurrency regulation, heralding a new era of financial accountability. In a remarkable move, Texas’ Senate recently passed House Bill 1666, designed to enforce stringent ‘proof-of-reserve’ requirements on cryptocurrency exchanges. The bill, which sailed through the Texas House of Representatives without significant amendments, is now awaiting the governor’s signature to become law​¹​. This legislation comes as part of Texas’ proactive approach to cryptocurrency regulation, establishing the state as a pioneer in this burgeoning industry.

The Proof-of-Reserves Bill Details

One of the key aspects of the bill is its restrictions on digital asset providers servicing more than 500 customers in Texas and holding at least $10 million of customer funds. These providers are prohibited from mixing customer funds with operational capital and using customer funds for transactions not demanded by the customer. Furthermore, the legislation obliges these exchanges to maintain sufficient reserves to fulfill potential withdrawals at any time, providing an extra layer of security for customers​²​.

The bill doesn’t stop at compliance. It includes measures for enforcing these provisions, granting the Texas Department of Banking the power to revoke licenses of providers who fail to meet these requirements. This move, combined with other recent legislative actions, shows Texas setting new precedents in the realm of digital currency, shaping the future of the industry​³​​⁴​.

Implications of the Texas Virtual Currency Act

The Texas Virtual Currency Act (TVCA), in which the ‘proof-of-reserves’ bill is a part, recognizes the legal status of virtual currency, subjects cryptocurrency to commercial laws under Texas regulations, and provides legal rights to cryptocurrency holders​⁵​​⁶​. Cryptocurrency firms offering ICOs must comply with the Texas Securities Act, and violations are subject to administrative, civil, and criminal sanctions​⁷​.

The Act also supplies legal rights to cryptocurrency investors, ensuring that virtual currency buyers acquire all rights in the virtual currency that the transferor had or had the power to transfer. This provision allows for multiple investors to have property rights in a single cryptocurrency​⁸​. Finally, the TVCA provides special rights to qualifying purchasers, defined as purchasers who obtain control of a virtual currency for value and without notice of any adverse claim​⁹​.

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