Bitcoin Mining Industry. The U.S. Bitcoin mining industry has… | by Chaudhary | The Capital | Feb, 2025
The U.S. Bitcoin mining industry has generated over 31,000 jobs and contributed more than $4.1 billion in gross product annually.
According to a report by The Perryman Group, most of the industry is concentrated in twelve states, with Texas being the largest contributor.
The study shows that Bitcoin mining in Texas generates approximately $1.7 billion in gross product and creates more than 12,200 jobs, including those linked to utility-related activities. Other major states include Georgia, which gives $316.8 million in annual gross product and 2,300 jobs, and New York with $225.9 million and 1,600 respectively.
Bitcoin miners also play a role in local communities. Mining companies often make charitable contributions and sponsor local events. They also invest in community infrastructure, which helps to improve the living standards. Additionally, these entities provide specialized training programs and prioritize hiring a diverse workforce.
Due to their flexible power consumption, Bitcoin miners can adjust their energy usage during times of grid stress, hence helping to stabilize demand. According to the Electric Reliability Council of Texas (ERCOT), their predictable demand for power aids in energy planning and supports investments in power generation…
