Mining Bitcoins Using The Energy Of Flared Gas In The USA
Senator Ted CRUZ spoke about bitcoin mining in Texas, offering some innovative solutions to existing problems. Senator Cruz said at a blockchain summit in Texas on October 8 that bitcoin could solve many of the problems the state faces.
The senator noted that Texas has an abundant source of energy that is usually wasted and burned. Gas, which is a by-product of the oil industry, is burned to prevent pressure build-up. About 50% of the gas currently flared in the United States is produced in the Permian Basin of West Texas.
The senator added that where there are such resources, there are no power lines or pipelines to direct gas or energy to where it can be used. Cruz suggested that the gas could be collected locally and used with generators to mine bitcoin. The environmental benefits are the use of gas instead of burning it, he said, and bitcoin mining operations can be easily shut down if the energy is needed for emergencies elsewhere.
Image: Business Insider
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