Texas Data Center Moratorium Proposal Spurs Bitcoin Miner Price Target Cuts

Bitcoin miners and data center operators face mounting regulatory hurdles following Democratic election victories, leading Bernstein to slash price targets for seven major miners by 35% to 54%. Texas Governor-elect Gina Hinojosa proposed an immediate moratorium on approvals for new data centers until residential power protections are enacted. Texas holds 25% to 27% of planned U.S. data center capacity, and covered miners maintain over half their power capacity in the state. Following the political pressure, Bitcoin slipped approximately 6% to around $75,600, while infrastructure equities including Nebius fell more than 15%.