Tuesday, November 26, 2024

Good morning! On this day in 1835, Texan forces defeated a group of Mexican cavalrymen in the so-called Grass Fight. Thinking that the cavalrymen might be carrying pay for the Mexican army, the Texans attacked them only to discover they were transporting grass for the army’s animals.

If you prefer to let someone else bake your Thanksgiving pies, you might need to get in line now if you want one from Houston’s Flying Saucer Pie Company.

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We’re sponsored today by Trevi, offering an investment opportunity you won’t want to miss.

State Wants More Control Over Crypto Mining

The Public Utilities Commission of Texas (PUCT) has implemented a new rule requiring cryptocurrency mining facilities operating on the Electric Reliability Council of Texas (ERCOT) grid to register with the agency to ensure the grid’s reliability.

Bitcoin mining has surged in Texas, particularly after China banned the practice in 2021. However, it has drawn criticism for its high energy consumption and noise disruptions in local communities. As of 2023, five of the 10 largest Bitcoin mines were in Texas, using 1,212 megawatts of energy.

According to estimates, crypto mining represents between 0.6% and 2.3% of total U.S. electricity consumption. President-elect Donald Trump has floated the idea of creating a strategic reserve of Bitcoin, and Sen. Ted Cruz has said he wants Texas to “be an oasis for Bitcoin.”

The new rule requires crypto mining facilities to disclose their location, ownership, and electricity demands with the PUCT or face penalties of up to $25,000 per day.

Report Highlights State’s Water Woes

A report by Rice University’s Baker Institute highlights Texas’ vulnerability to long-term water supply shortages and deteriorating infrastructure. It warns of severe economic consequences if legislators don’t provide additional funding to address the situation.

Commissioned by the nonpartisan advocacy group Texas 2036, the report predicts that if Texas experiences a drought similar to that of the 1950s, it could lead to reduced energy production, $160 billion in annual GDP losses, 800,000 lost jobs, and significant population declines by 2030.

By 2070, the state’s water supply is projected to be nearly 6.9 million acre-feet less than needed, the amount of water required to supply as many as 20.7 million homes for a year.

The report calls for investing $154 billion in water supply, infrastructure repair, and wastewater systems over the next 50 years, with state and federal funding expected to cover $40-$45 billion of that amount.

Glen Powell Look-alike Crowned

A Glen Powell look-alike contest drew hundreds to Austin’s Auditorium Shores on Sunday, celebrating the local actor who has starred in hits like Top Gun: Maverick, the romantic comedy Anyone But You, and the disaster film Twisters.

The winner, Maxwell Braunstein, a physician assistant from Austin, received $5, a cowboy hat, a year’s supply of queso from Torchy’s Tacos, and a thumbs up from Glen Powell’s mom, who was among the crowd at the event.

The real Glen Powell sent a video message congratulating the participants and offering a special prize: a cameo in his next movie for a family member of the winner. Powell is currently working on a dystopian thriller called “The Running Man” and a comedy series called “Chad Powers.”

Tested Founder Tackles $505B Challenge

IPOs and acquisitions are perhaps the most coveted outcomes for founders and early investors. Why? It’s how they cash in. Well, John Webley’s already achieved each in prior ventures – for exits totaling a combined $2.7 billion. Now, he’s turned his full attention to Trevi Systems to address $505B worth of problems.

Trevi’s patented water treatment tech purifies wastewater and seawater at half the energy cost and a third the thermal cost of traditional methods. It can even recover precious metals like lithium and nickel in the process. It’s no wonder why they’ve received 14 government grants, commercial deals to supply water in Oman and Kuwait, and a projected $8.7m in revenue this year. But that’s just the start. Trevi has ambitious plans to 30X revenue by 2028.

Proven leadership, breakthrough tech, a detailed roadmap for success, and one of the least elastic markets around – opportunities like this don’t come often. Invest in Trevi and secure your stake in the future of water treatment.

➤ Goldsmith: Multiple fire departments responded to an explosion at a Phillips 66 gas plant on Saturday. The cause of the explosion is unknown at this time, but it reportedly caused a shockwave that was felt several miles away in Odessa. (More)

➤ Austin native Baker Mayfield is suing his family’s company, Camwood Capital Management Group, seeking enforcement of a $12 million settlement for funds Mayfield alleged was improperly transferred to the company. (See Details)

➤ San Antonio: Hundreds of residents exchanged more than 550 guns for H-E-B gift cards at the Alamodome on Sunday. Event organizer Councilman John Courage called the exchange a matter of public safety, explaining that every gun collected would be destroyed. (More)

➤ A federal bankruptcy judge ordered a new hearing to determine if satirical news outlet The Onion should be allowed to buy Alex Jones’ Infowars website. Jones argued the Nov. 14 auction was not transparent and that it was marred by collusion. (More)

➤ Houston: Mayor John Whitmire announced a new $70 million initiative to get homeless people off city streets, clarifying that a previous proposal for a city-sponsored encampment had been scrapped. (More)

➤ Austin: Google is suing a former employee who worked in India and is now studying for his doctorate in electrical engineering at the University of Texas, alleging he posted photos of a yet-to-be-released Pixel smartphone on social media. (See Details)

➤ Texas remained at No. 3 in Sunday’s AP Top 25 college football poll, while SMU moved up to No. 9 and Texas A&M plummeted five spots to No. 20. (See Poll)

➤ The San Antonio Spurs pulled off a 17-point comeback to defeat the Golden State Warriors 104-94 on Saturday. (Watch Highlights)

➤ Houston Texans safety Jalen Pitre is expected to miss multiple weeks with a pectoral injury. (More)

➤ Yesterday’s Results: NFL | NBA | NHL | NCAAM | NCAAW

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➤ The McKinney City Council approved a site plan for a $220 million, 20,000-seat amphitheater being developed by Colorado-based Notes Live. The venue is expected to open in 2026. (More)

➤ A bankruptcy judge dismissed a $1.3 billion lawsuit against a subsidiary of San Antonio-based Zachry Holdings over a 2022 explosion at its Freeport LNG export terminal. The judge ruled that the company’s insurers don’t have standing to seek reimbursement for claims paid following the incident. (More)

➤ Dallas-based StreetLevel Investments has begun work on a 120-acre mixed-use development in Forney’s master-planned Gateway community. The shopping center will include a Target, Home Depot, H-E-B, and multiple restaurants. (More)

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Tap Into 30X Growth Potential

$8M+ in revenue would be a dream come true for many companies. For Trevi Systems, it’s just the beginning.

Trevi’s tech slashes the energy cost of industrial water treatment by up to half. That makes it a game changer across multiple industries, including mineral extraction, oil and gas, and agriculture – a combined $505B market. It’s why they’ve already earned 14 government grants and commercial deals for their tech in Oman and Kuwait.

Join Trevi as a shareholder as they plan to 30X their revenue by 2028.

This is a paid advertisement for Trevi’s Regulation CF Offering. Please read the offering circular at https://invest.trevisystems.com/

➤ Here’s a list of five other things you could buy for the price of a nosebleed seat at this weekend’s matchup between the University of Texas and Texas A&M in College Station. (See Details)

➤ The 145-year-old bell hanging in the belfry at St. John’s Episcopal Church in East Dallas has been restored after 35 years of disrepair. The bell can be programmed with a smartphone app and rings every day at 9 a.m., noon, and 3 p.m. (More)

➤ A horse was spotted sticking its head out of the backseat window of a pickup in Fort Worth. Yes, you read that right. (Watch Video)

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