Why Texas Republicans are souring on crypto

Unlike most campaign promises this one ought to be easy to keep—because it is already true. After China banned bitcoin in 2021, crypto-miners went looking for refuge. In Texas they found everything they needed: cheap power, an abundance of land, low taxes and a libertarian ethos that matched their own. Three years on, America is home to more bitcoin mining than anywhere else, and Texas has more than most other states combined. But soon the Lone Star State could drive them out.