- Senator Ted Cruz participated in a conference last Friday.
- Bitcoin mining avoids the waste of energy resources.
Bitcoin mining can offer energy solutions to the US state of Texas, according to Republican Senator Edward “Ted” Cruz.
Ted Cruz attended the Texas Blockchain Summit, held on October 8, 2021, where he took the stage with educator Jimmy Song to talk about Bitcoin.
The senator for the state of Texas said that this region has abundant sources of energy that are not used at all, from the wind, to natural gas. “50% of the natural gas that is released into the air in this country is being released in the Permian Basin of West Texas,” he said.
Cruz recalled the power outages the entire state suffered during a snowstorm in January 2021, last winter season. In this sense, he pointed out that Bitcoin mining can put wasting natural gas to use and, at the same time, supply power to the Texas electricity grid in periods of high demand , or when natural disasters and emergencies occur.
He also noted that many of the criticisms of Bitcoin are based on its energy consumption. “The perspective I suggest is the reverse, where the electricity consumption of Bitcoin is a way to strengthen our energy infrastructure,” he said.
There are many places on the planet where the sun shines brightly and the wind blows a lot, but there is no energy connectivity, and it is not economically sustainable to use that energy. The beauty of Bitcoin mining is that if you can connect to the internet, you can use that energy and extract value from those renewable sources in a way that would be impossible otherwise. And I think we will be seeing massive innovation in this regard in the next 5 years.
Ted Cruz, Senator (Republican Party) of the United States Congress.
In the state of Texas, there are several representatives of the oil and gas industry who, like Senator Cruz, see potential in Bitcoin mining. This portal has reported on meetings that these businessmen carry out to coordinate actions on the matter.
Miners are distributed among energy sources in the US
As we have reported on CryptoNews, other miners are taking advantage of surplus energy sources to mine Bitcoin. This is the case with Stronghold Digital Mining, which is recycling coal in the state of Pennsylvania for this purpose.
Also in the US, other miners are already approaching nuclear energy , while in El Salvador , the innovation has been to mine Bitcoin with geothermal (volcanic) energy.