BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read more

$41,802.31 0.19%
BTC · 7w

Wyoming Aiming For 5% Of The U.S. Bitcoin Mining Hashrate By Next Halvening

Wyoming is on a mission to house 5% of the U.S. Bitcoin mining hashrate by the next halvening in May 2024. This goes hand-in-hand with Wyoming’s strengths and aligns well with economic development and job creation goals.

For context, Wyoming has the lowest population density in the lower 48 U.S. states at six people per square mile (neighboring Colorado houses 56 people per square mile). Wyoming also has a difficult time retaining recent graduates because their ambitions for careers and salaries often don’t match what the rural Wyoming job market is currently offering, compared to major cities like Seattle and Denver.

A major goal of the University of Wyoming’s President Dr. Edward Seidel is to at least match bordering Montana’s post-graduation retention rate, which is the equivalent of adding 250 high-paying full-time jobs in Wyoming, with an annual salary of $75,000 or more. 2021’s average annual wages in the state are hovering just over $50,000. Every 10MW of mining adds about one or two direct full-time employees, plus brings ancillary growth to local economies such as construction, engineering, and manufacturing jobs. Bringing Bitcoin mining to Wyoming can easily put a dent in the goal of bringing 250 new well-paid careers to Wyoming in the near term.

This efficient and nimble state has historically been a leader in innovative legislation so it is no surprise that Wyoming state congressmen and regulators have been leading the way globally for digital asset legislation the last four years. Additionally, U.S. Senator Cynthia Lummis, “The Bitcoin Senator”, has worked tirelessly on bipartisan policy that enables America to lead the way in digital assets so that we may maintain our global competitiveness. Senator Cynthia Lummis will provide opening remarks for the University’s second Bitcoin mining webinar.

Wyoming’s main economic activity derives from energy and minerals — with a touch of agriculture, manufacturing and tourism. M...

Continue on
Recent News
BTC +0.19% · · 23h

Is This the Year bitcoin Goes Green?

Bitcoin, the world’s largest cryptocurrency, has a well-established history of negative environmental impact, and this reputation has carried broadly ac...