Catenaa, Tuesday, February 18, 2025 – The US Bitcoin mining industry has generated more than 31,000 jobs and contributed over $4.1 billion annually to the economy, according to a new report from The Perryman Group.
The industry is concentrated in 12 states, with Texas leading the charge. The Lone Star State accounts for $1.7 billion in annual gross product and over 12,200 jobs, including those related to utility services.
Georgia and New York are also significant players, contributing $316.8 million and $225.9 million in gross product, respectively, while creating thousands of jobs.
Bitcoin mining companies have become integral parts of local communities, with many investing in infrastructure and sponsoring events. They also offer specialized training and emphasize diversity in hiring.
Their operations contribute to stabilizing the energy grid, especially during periods of high demand. The Electric Reliability Council of Texas (ERCOT) noted that miners’ predictable power usage aids in energy planning and supports new investments in energy infrastructure.
However, the industry faces challenges, including environmental concerns and regulatory scrutiny. Some states, like New York, have introduced mining restrictions due to environmental impact, while federal lawmakers are debating potential tax and environmental reporting requirements. In response, many companies have begun adopting renewable energy sources and repurposing excess energy for other uses.
US President Donald Trump has expressed support for Bitcoin mining, aiming to position the country as the global leader in the sector. He has proposed building power plants dedicated to mining, utilizing fossil fuels and nuclear energy to ensure the US remains a hub for Bitcoin and cryptocurrency innovation.
