ETFdb Logo
  • ETF Database
  • Channels
    • Themes
      • Active ETF
      • Alternatives Channel
      • Artificial Intelligence
      • China Insights
      • Climate Insights
      • Core Strategies
      • Crypto
      • Disruptive Technology
      • Energy Infrastructure
      • ETF Building Blocks
      • ETF Education
      • ETF Investing
      • ETF Strategist
      • Faith-Based Investing
      • Financial Literacy
      • Fixed Income
      • Free Cash Flow
      • Innovative ETFs
      • Invest Beyond Cash
      • Leveraged & Inverse
      • Modern Alpha
      • Portfolio Strategies
      • Tax Efficient Income
    • Asset Class
      • Equity
        • U.S. Equity
        • Int'l Developed
        • Emerging Market Equities
      • Alternatives
        • Gold/Silver/Critical Materials
        • Crypytocurrency
        • Currency
        • Volatility
      • Fixed Income
        • Investment Grade Corporates
        • US Treasuries & TIPS
        • High Yield Corporates
        • Int'l Fixed Income
    • ETF Ecosystem
    • ETFs in Canada
    • Market Outlook
    • Crypto ETF Hub
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Database Categories
    • Indexes
    • Scenario Analysis
    • Watchlists
    • Head-To-Head ETF Comparison Tool
    • Mutual Fund To ETF Converter
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
  • Research
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF of the Week Podcast
    • Gaining Perspective Podcast
    • ETF Prime Podcast
    • Video
  • Company
    • About VettaFi
    • Get VettaFi’ed
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Crypto Channel
  2. These States Move to Support Crypto Mining
Crypto Channel
Share

These States Move to Support Crypto Mining

Tom LydonMay 16, 2023
2023-05-16

The White House has its sights sets on a proposed levy that would compel the crypto mining industry to reduce its carbon footprint. However, some states are signaling more hospitable tones, revising laws that could make it easier for crypto miners to operate in those jurisdictions.

That could be a longer-ranging positive for exchange traded funds such as the Invesco Alerian Galaxy Crypto Economy ETF (SATO ).

State by State Crypto Mining

For example, Governor Greg Gianforte (R-MT) signed S.B. 178 into law earlier this month. It prevents Montana towns from setting punitive utility rates for crypto miners.

S.B. 178 reverses an often-contentious history between crypto miners and some Montana towns. Now, the state could be poised to compete with neighbor Wyoming in terms of generating crypto-related government receipts and potentially creating jobs.

Montana isn’t the only state warming to the industry, even as the federal government considers miners as a source of climate-related tax revenue.

“For example, in April, lawmakers in the Texas state Senate introduced a bill aimed at limiting incentives for crypto miners through participation in a program intended to compensate them for load reductions on the state’s power grid,” reported Turner Wright for Coin Telegraph.

Last month, Arkansas passed a bill mirroring Montana’s legislation. It streamlines crypto mining regulations and perhaps makes the Southern state more hospitable to bitcoin miners. A similar effort was stymied in Mississippi after it passed the state House there. However, it could be revived in a future legislative session. Arizona is among the other states considering legislation that could be conducive to luring the bitcoin mining industry.

“This recent move by the State of Montana is encouraging in the cryptocurrency market, as it will enhance the adoption and use of BTC across the State and worldwide. Moreover, Montana’s move could pave the way for other states to follow suit, fuelling a broader trend towards cryptocurrency-friendly legislation nationwide,” according to The News Crypto.


Content continues below advertisement

SATO's Exposure

Bitcoin mining is energy-intensive due in part to competition among miners and network activity. Those traits often compel miners to consider locations in states with abundant energy resources. They could also move to states that will provide incentives for adoption of renewable energy.

SATO’s roster of 37 holdings features significant exposure to crypto miners. As a result, the Invesco fund is a credible avenue for investors looking to wager on a small-cap rebound. More than three-quarters of the ETF’s components are classified as small-cap equities.

For more news, information, and analysis, visit the Crypto Channel.

VettaFi LLC (“VettaFi”) is the index provider for SATO, for which it receives an index licensing fee. However, SATO is not issued, sponsored, endorsed or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing or trading of SATO.

Loading Articles...
Our Sites
  • VettaFi
  • Advisor Perspectives
  • ETF Trends
Tools
  • ETF Screener
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Database Pro
More Tools
  • Financial Advisor & RIA Center
Explore ETFs
  • ETF News
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Information
  • Contact Us
  • Terms of Use and Privacy Policy
  • © 2025 VettaFi LLC. All rights reserved.

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X