Tiny Towns, Small States Bet on Bitcoin Even as Some Shun Its Miners

Carlton Fields’ Blockchain Technology and Digital Currency Practice Chair, Justin S. Wales, was quoted in the Pew Charitable Trusts’ Stateline.org article, “Tiny Towns, Small States bet on Bitcoin Even as Some Shun Its Miners.”

The article explains the trend of bitcoin miners moving to small towns and states with cheap rent, land or electricity to set up computers that solve complex math programs and enable the use of blockchain technology (an open online distributed ledger) to transfer value through digital currencies such as bitcoin. Some places eschew the miners because their operations have consumed a lot of electricity while they have not produced jobs; other places are rolling out the welcome mat.

Even as the architecture of blockchain has built-in protections, states have enacted regulations such as required licensure in response to fraud, hacking, and theft.

“Regulators ‘want to do something just to be seen as doing something,’” Wales said. “This is a risky approach, he said, because poorly written laws could restrict the technology and stifle innovation.” 

Read the article.  

Learn more about Carlton Fields’ Blockchain Technology and Digital Currency practice.  

©2026 Carlton Fields, P.A. Carlton Fields practices law in California through Carlton Fields, LLP. Carlton Fields publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information and educational purposes only, and should not be relied on as if it were advice about a particular fact situation. The distribution of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship with Carlton Fields. This publication may not be quoted or referred to in any other publication or proceeding without the prior written consent of the firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our Contact Us form via the link below. The views set forth herein are the personal views of the author and do not necessarily reflect those of the firm. This site may contain hypertext links to information created and maintained by other entities. Carlton Fields does not control or guarantee the accuracy or completeness of this outside information, nor is the inclusion of a link to be intended as an endorsement of those outside sites.