CEO Of Texas Power Giant Declares Bullish Stance On Bitcoin

ERCOT interim CEO Brad Jones declares he’s pro Bitcoin. Read the full article by: Olivia Brooke

Key Points:

• Since China banned mining a couple months ago that opened up room for other countries, especially the US, to be next up to take advantage of the opportunity. “I’m pro bitcoin…but I’m too risk-averse to be an investor in bitcoin,” Said Brad Jones CEO of ERCOT.

• Texas is rapidly becoming one of the most popular homes of new and previous miners as North America overall is becoming a hot spot between just the US and Canada. Along with Texas other states such as Arizona, Wyoming, Vermont and others are also getting a lot of attention.

• Brad Jones thinks that this is mutually beneficial for both the state of Texas and new miners. Texas is an interesting spot because of how much renewable energy it has from nuclear, solar, and wind. Since they have so much energy at the ready they can offer miners very competitive prices for that energy to run their operations.

• “These bitcoin [miners] see that as a great opportunity. They can get paid to use power. And that’s why they’re coming to the state. But that’s not necessarily bad,” Jones noted. “So I think it’s really a valuable potential resource for us.”