Texas senator hails Bitcoin mining as ‘a net plus for the environment’
Texas Senator Ted Cruz has suggested that Bitcoin (BTC) mining is an added benefit to the environment, removing the ever-present concerns about the asset’s energy consumption.
Cruz stated that cryptocurrency mining is a “net plus” for the environment, especially if miners focus on harnessing renewable energy sources, he said during an interview published by Show news on August 20.
Interestingly, Cruz suggested that Bitcoin mining brings prosperity to families involved in the activity, as it breeds entrepreneurs.
“Cryptocurrency is a net plus for the environment. Being able to unlock a lot of renewables is important for the environment. Taking stranded natural gas and putting it to productive use is a huge positive. <...> Bitcoin is also a room full of entrepreneurs, full of people supporting their families, and that prosperity is a net positive for the environment as well,” Cruz said.
Bitcoin’s ability to share the grid
Cruz added that in the wake of Bitcoin mining criticism, the activity could coexist with other forms of energy exploitation by sharing the web.
“Because of the ability for Bitcoin mining to turn on or off instantaneously, if you have a moment where you have a power outage or a power crisis, whether it’s a freeze or some other natural disaster where power generation capacity goes down, it creates capacity to move that energy instantly to put it back online,” he added.
The lawmaker cited Texas as an ideal location to promote Bitcoin mining. According to Texas-based Cruz, Bitcoin mining can play “a significant role in strengthening and hardening the resilience of the web.”
Cruz’s support for Bitcoin
The senator who has expressed his support for Bitcoin maintains that he wants to make Texas one ‘oasis on planet Earth for Bitcoin and cryptocurrencies.’
In particular, the state of Texas has taken measures to support and attract Bitcoin miners by introducing a system that pays operators to shut down the activity in case of high power demand.
As reported by Finbold, some miners are on record indicating that they profited greatly from halting operations during the heat wave.
Overall, the US has emerged as the leading destination for crypto miners. Several states are luring miners by offering them renewable sources to help mitigate their asset’s carbon footprint.
