"At first glance, these products appear to have no real connection to one another," said Frank Borger-Gilligan, Assistant Commissioner for the Tennessee Securities Division. "What they all have in common is their recent emergence as three investments that both sellers and buyers hope will become the 'next big thing.' Before you consider investing, make sure you understand what these products are, their benefits, and their risks."

Washington State has been a popular hub for companies that consume large quantities of electricity, such as data centres and bitcoin mining operations. The region has a cheap supply of hydropower from dams built along the Columbia River, in Quincy and Wenatchee electricity has been as low as 3 cents per kilowatt hour.

Earlier this year, state lawmakers approved an extension of tax breaks for data center operators, which were set to expire. Companies that operate data centers in rural areas of the state are exempt from sales tax on purchases of IT and supporting infrastructure equipment.