US company LandBridge, which specializes in acquiring land for oil and gas production, plans to attract cryptocurrency miners as part of its future strategy. This comes as the company launches its IPO, which is offering 14.5 million shares at prices ranging from $19 to $22. 📈

LandBridge owns approximately 220,000 acres in the oil and gas-rich Permian Basin region of Texas and New Mexico. The company suggests its land could be useful for more than just oil and gas producers. Cryptocurrency miners and data centers can also gain access to water, roads, fiber optic infrastructure and electricity.

However, state lawmakers are starting to take notice of energy-hungry cryptocurrency miners and AI data centers. Local media reported that demand for cryptocurrencies and AI is putting pressure on the Texas power grid.