How Will The New Texas Governor Impact the State’s Bitcoin Mining?

Riot Platforms sold about 79% of its Bitcoin over three months, reducing its holdings from 11,380 coins in June to 2,418 by Sept. 30, to fund AI data centers in Texas. The company signed a $28 billion AI lease on Wednesday to rent its entire Corsicana, Texas, campus to an unnamed AI lab. The lease came a day after Democrat Gina Hinojosa won the Texas governor’s race; she takes office in January and has pledged a moratorium on all data center permits until the Legislature codifies regulations. Riot sold 20,264 coins for about $1.5 billion from January through September, mostly for data center construction.