OTHERAPPROVED

Palestine EDC Incentive & Lease Deal With Bitcoin Mining Institute Approved

Palestine Economic Development Corporation approved a 10-year Economic Development Performance Incentive and Lease Agreement with Bitcoin Mining Institute, LLC valued at $805,608 in cash incentives, contingent on a $8.025 million capital investment and the creation of 340 jobs. The agreement will establish a computer repair and workforce training facility in Palestine, Texas.

Document date · February 10, 2026

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$805,608 (cash incentive value via lease reduction); Capital investment required: $8,025,000
Contract type
OTHER
Contract term
February 10, 2026 – February 9, 2036 (10 years)
Renewal date
2036-02-09
Renewal
10-year term; performance benchmarks with annual verification; termination and clawback if obligations are unmet. Lease has no auto-renewal but right of first refusal provided for purchase.
Document type
AgendaPacket
Source document
Palestine Economic Development Corporation Meeting Agenda Packet February 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Palestine?

Bitcoin Mining Institute Llc was awarded this government contract by City of Palestine, as recorded on February 10, 2026. The contract value is $805,608 (cash incentive value via lease reduction); Capital investment required: $8,025,000.

How much is the Bitcoin Mining Institute Llc contract with City of Palestine worth?

The Bitcoin Mining Institute Llc contract with City of Palestine is valued at $805,608 (cash incentive value via lease reduction); Capital investment required: $8,025,000.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Palestine Economic Development Corporation Meeting Agenda Packet February 2026 (AgendaPacket), dated February 10, 2026 from City of Palestine. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bitcoin Mining Institute Llc hold?

Bitcoin Mining Institute Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Bitcoin Mining Institute Llc's profile

What is City of Palestine currently buying?

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