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Texas elects Gina Hinojosa, who pledged a pause on data center approvals
Texas elected Gina Hinojosa governor on a pledge to pause data center approvals, a move that puts mining companies in the state under scrutiny.
Quick take
- Gina Hinojosa won the Texas governorship on a pledge to pause data center approvals in the state.
- Abbott had already ordered an audit of data centers and told the TCEQ to halt permits.
- The ERCOT audit report is due around Dec. 10, before Hinojosa takes office on Jan. 19 and the session runs to May 31.
Unchained reported that Texas elected Gina Hinojosa as governor after she promised to pause approvals for data centers. Her term starts Jan. 19, and the state legislative session runs until May 31. Republicans kept their 19-12 majority in the Texas Senate, a result that leaves the party in control of that chamber.
Abbott acted before the election, as he paused data center approvals in August and then ordered the PUCT and ERCOT to audit data centers. On Sept. 21 he told the TCEQ to halt data center permits. The ERCOT audit report is due around Dec. 10, which lands before Hinojosa takes office.
Bernstein named IREN, Riot and Cipher as the companies most exposed to Texas, and it cited tighter financing along with the state's uncertainty as reasons. Cipher shares fell 20% on Nov. 4, while the Nasdaq-100 rose about 1%. Riot rose 10% after lease news, and Hut 8 dropped 23%. The shift in Texas policy has put mining operations in the state under closer scrutiny.
Sources
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