Texas Bitcoin reserve plan advances as federal push faces delays

Texas has named a five-member advisory committee to guide the management, custody and valuation of its Strategic Bitcoin Reserve. Acting Comptroller Kelly Hancock will serve on the panel, which was created under Senate Bill 21 passed and signed into law on June 22, 2025 and which gives the Comptroller’s office authority to administer the reserve.

The committee includes Laurie Dotter, chair of the Investment Advisory Board for the Employees’ Retirement System of Texas, who brings more than 35 years of experience in investment oversight and governance; Jamie McAvity, founder and CEO of Cormint Data Systems, which operates a 130-megawatt Bitcoin mining facility in Fort Stockton described as one of the most efficient sites in the country; Carla Reyes, a Southern Methodist University law professor who serves on the CFTC’s Innovation Advisory Committee and has testified before Congress on blockchain policy; and Gary A.

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