Alaska

Bitcoin States

Alaska introduced legislation in 2025 to study the feasibility of adding Bitcoin to the Alaska Permanent Fund, the sovereign wealth fund that distributes annual dividends to Alaska residents. The state has abundant renewable energy resources including hydroelectric and geothermal power that could support significant Bitcoin mining operations. Alaska represents a frontier opportunity for Bitcoin energy arbitrage.

Details

State: Alaska
Region: Pacific Northwest / Arctic
Status: proposed
Governor: Mike Dunleavy
Income Tax: No
Bill Number: HB 25
Description: Alaska proposed HB 25 to allow the state Permanent Fund (worth ~$75B) to invest a portion in Bitcoin. No state income tax. Strong energy resources favorable for mining.
Legislation: Alaska Permanent Fund Bitcoin feasibility study (2025)
Abbreviation: AK
Reserve Proposed: Yes
Bitcoin Mining Rights: Yes
Bitcoin Friendly Score: high

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Arizona

Arizona signed limited Bitcoin reserve legislation allowing the state to hold Bitcoin from seized or forfeited assets, rather than purchasing it outright. This establishes a legal framework for Arizona to become a state Bitcoin holder through law enforcement activities. Arizona also considered more expansive Bitcoin reserve bills that would allow active treasury purchases, but these faced additional hurdles. Arizona's large retirement system (PSPRS) managing over $14 billion makes any state-level Bitcoin allocation strategically significant.

New Hampshire

New Hampshire became the first US state to sign a Bitcoin strategic reserve law into effect, with Governor Kelly Ayotte signing HB 302 in 2025. The law allows the state treasurer to invest up to 5% of certain state funds in Bitcoin and precious metals. Consistent with its "Live Free or Die" motto and libertarian political culture, New Hampshire also hosts the Free State Project — a movement of libertarians relocating to the state — many of whom are Bitcoin advocates.

Texas

One of the most Bitcoin-friendly states. Passed strategic Bitcoin reserve legislation and purchased ~$5M in BlackRock Bitcoin ETF (Nov 2025). Home to major mining operations and a supportive regulatory environment.