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

Dextape brief

By Dextape Desk · November 4, 2026

Riot's Bitcoin stash shrank to 2,418 coins at the end of September, down from about 11,380 in June, a reduction near 79 percent over the quarter. Its third-quarter results show 20,264 coins sold for around $1.5 billion through September, mostly for data center construction. On Wednesday, Riot agreed to a $28 billion AI lease with an unnamed lab covering its Corsicana, Texas campus, a day after Democrat Gina Hinojosa won the governor's race. Hinojosa has said she would freeze all data center permits until the Legislature sets rules, though her proposals focus on terms like ending subsidies. Jefferies projected that such a freeze could threaten 13.3 gigawatts of announced projects. A grid audit is due in mid-December, and Hinojosa takes office in January.

Why it matters: Riot's shift from selling bitcoin to leasing its sites for AI work shows how Texas data center rules could shape miners' power and project plans.

Mentioned: Bitcoin

Summary by Dextape, based on reporting by BeInCrypto. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.