The Crypto Racket – The American Prospect
This story was cross-posted from the Texas Observer, an investigative news organization that covers Texas communities whose stories are often ignored.
The five members of the Navarro County Commissioners Court had rarely seen such a large audience for their Tuesday meeting as they saw in October 2024, when they weighed a Colorado-based company’s application for a multimillion-dollar tax abatement—an incentive to expand its already-established cryptocurrency mine near the small North Texas town of Corsicana. It was standing room only in the small meeting room of the stately county courthouse. Roughly a dozen locals occupied the first rows of seats, while more than 50 employees of Riot Platforms—the company seeking the…
