TexitCoin Review (2026): Why Texas Regulators Say Its Mining Packages Were Securities

TexitCoin in One Minute

TEXITcoin (TXC) is a mineable cryptocurrency marketed with the slogan "Built in Texas. Mined in Texas. Owned by Texans." Buyers didn't usually mine it themselves; they bought mining packages from its partner MineTXC, and could earn commissions for recruiting others. On February 11, 2026 the Texas State Securities Board issued an emergency cease-and-desist order against TEXITcoin, MineTXC, the marketing firm Blockchain Mint and founder Robert "Bobby" Gray, alleging the packages were unregistered securities sold with misleading omissions. Gray and the company deny the allegations.

How the Mining Packages Worked

Buyers paid for a share of computing power and received TXC coin allocations as the network was mined. Packages reportedly ranged from $995 to $8,955. MineTXC's own site claimed more than $147 million raised and about $65 million paid in commissions, figures that haven't been independently verified.

The Binary Compensation Plan

Sellers earned commissions through a binary plan: as reported at the August 2026 hearing, an agent could earn $1,000 at three points per team, $2,000 at six and $3,000 at nine, with weekly commissions capped at $3,000 and paid in crypto, extra mining power or a stablecoin. Recruiting pay is what puts a product under MLM rules, and it's often what draws regulators.

Lowest package$995

Highest package$8,955

What the Texas Order Alleges

• The mining packages were investment contracts, so they had to be registered.
• Respondents weren't registered to sell securities.
• Buyers weren't told key facts, including company finances, fund custody and mining operations.
• Buyers weren't told that Gray's earlier company, Mulligan Mint, filed for Chapter 11 bankruptcy in 2013.
• Promotion described passive gains, such as a "seat on the rocket ship."

TexitCoin's Defense

Gray and TEXITcoin say buyers joined a proof-of-work mining pool, received the coins and commissions promised, and were warned that crypto is speculative. Their lawyer told the hearing it was "not a real fraud case" and that the order doesn't accuse Gray of stealing money. Gray calls TXC a community currency and denies it is a pyramid scheme.

Where the Case Stands

A contested hearing ran August 17 to 20, 2026 at the State Office of Administrative Hearings in Austin, to decide whether the order is upheld, modified or set aside. The Securities Board asked the judge to authorize refunds to buyers. We hadn't seen a ruling when we checked. Sales of mining packages stopped after the order, but the coin's network kept running.

Before You Buy Any Mining Package

1. Ask who owns and runs the mining equipment, and whether you can see it.
2. Check whether the seller is registered with your state securities regulator.
3. Work out your return without any recruiting commissions.
4. Ask where the coin trades and how easily you can sell it.
5. Read any regulator orders before investing.

See the patterns across many real cases in our crypto Ponzi scheme red flags guide.

If You Bought TexitCoin Packages

Keep receipts, package details, wallet addresses and commission statements. Watch the Texas State Securities Board for the final order, which could include refunds. Texans can contact the Board directly; others can report concerns to the FBI's Internet Crime Complaint Center. Ignore anyone who offers to "recover" coins for a fee.

A Steadier Way to Protect Savings

Schemes like this prey on people looking for fast returns. Some savers prefer slower, tangible assets for part of their retirement money. Our top pick, Augusta Precious Metals, offers a free guide to the sales tactics retirement savers should watch for; our budget pick Noble Gold offers a free economic-crisis guide. Precious metals carry their own risks and costs.

Is TexitCoin a Scam?

Texas regulators allege its mining packages were unregistered securities sold with misleading omissions. The founder denies wrongdoing, and no final ruling had been reported when we checked.

Pros and Cons

Frequently Asked Questions

Our Verdict on TEXITcoin

Don't buy mining packages while the Texas case is unresolved. If you hold TXC, keep records and follow the Board's final order.

Precious metals prices can fall as well as rise, and a gold IRA carries setup, custody and storage fees. This page is general information, not financial, tax or legal advice. Consider speaking with a licensed financial professional before moving retirement savings.