Texas Voted to Pause New Data Centers. Which Bitcoin Miners Are Already Past the Freeze?

Bitcoin miners that turned into AI landlords have been valued on how many megawatts of power they control and how much of it sits in Texas, where power has been easiest to get. On Tuesday, Texas elected Gina Hinojosa governor after she promised to keep data center approvals on hold until the legislature writes new rules. On Wednesday, Bernstein cut its price targets on seven of these miners by 35% to 54% , citing “tighter financing markets and overall Texas uncertainty.” But megawatts in Texas alone do not tell an investor which projects a Texas pause affects. A freeze would work on approvals not yet granted: a grid classification, an environmental permit, a tenant still to be signed. Some miners have cleared every gate for the capacity they have leased.

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