🇺🇸 Bitcoin Mining Supports 31,000 US Jobs and $4.1b in Economic Growth

A recent report by the Perryman Group, commissioned by the Texas Blockchain Council and The Digital Chamber, found that Bitcoin mining has created over 31,000 jobs in the United States.

This includes both direct employment in mining operations and indirect jobs in supporting industries. Texas leads the way, accounting for more than 12,200 of these jobs.

Beyond employment, Bitcoin mining has contributed over $4.1b annually to the U.S. economy and has played a role in supporting energy infrastructure by acting as a load-balancing resource for electrical grids.

The industry's growing significance aligns with earlier statements from President Trump, who emphasized the importance of strengthening the country’s mining and AI infrastructure.

He has called for increasing the nation’s energy production - potentially doubling current levels—and has advocated for the use of fossil fuels and nuclear energy to meet these demands.

The push for energy solutions has spurred interest in alternative power sources, including nuclear energy. In October, Google signed an agreement with Kairos Power to develop a small-scale nuclear reactor for its AI operations, aiming to bring it online by 2030.

These compact reactors, small enough to fit inside an 18-wheel truck, highlight a growing trend toward integrating advanced energy solutions into high-performance computing and mining infrastructure.

⛏️ In The News

• MARA acquired a Texas wind farm with 114 MW of capacity to power mining operations, aiming to cut costs by using renewable energy and repurposed ASIC hardware.

• Tencent has disclosed a 15.6% stake in Cango, which recently pivoted into Bitcoin mining, making it the third-largest public Bitcoin miner after acquiring 32 EH/s of hashrate from Bitmain for $400m.

• US has intensified its crackdown on Bitcoin mining hardware imports, seizing ASICs from Bitmain, MicroBT, and Canaan at ports nationwide.

• US-listed Bitcoin miners now control 29% of the global hashrate, nearly doubling their share from last year, according to JPMorgan.

• Hashrate growth slowed in January as smaller miners struggled with declining profitability, while publicly traded firms increased their market share to 30%.

📆 Miner Reporting

🤖 Core Scientific Expands into Alabama with $400m HPC Facility

• Core Scientific is expanding its operations into Auburn, Alabama, by establishing a new HPC facility within the existing AUBix building. The new facility will start with a capacity of 16 MW, with plans for future expansion to accommodate growing needs in HPC.

• An initial investment of $135m will be made in the facility, and the total investment, including future capital expenditures from partners, is expected to exceed $400m.

• As part of the expansion, Core Scientific is retaining 11 FTEs from the AUBix facility and plans to increase its workforce to at least 20 FTEs.

• The project is anticipated to generate approximately $1.5m in annual local tax revenue, benefiting Auburn’s schools and public services and reinforcing the area's position as a growing tech hub.

• The expansion is backed by support from local and state leaders, including Auburn city officials and Alabama Governor Kay Ivey, emphasizing the state's pro-business environment and its increasing role in the technology and digital infrastructure sectors.

• Core Scientific’s expansion adds to its existing network of nine data centers across six states, with an additional facility under development in Oklahoma.