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Sen.Ted Cruz Believes Texas Will Use Bitcoin Mining to Tap Wasted Natural Gas

cryptoknowmics.com 11 October 2021 06:30, UTC

The US Senator Ted Cruz has recently forecasted that Texas may soon start using Bitcoin mining to capture wasted non-renewable sources of energy such as natural gas and the power grids of the State within five years.

Sen. Ted Cruz Says Texas Will Soon Use Bitcoin Mining to Capture Wasted Energy Resources

Speaking at the recent Texas Blockchain Summit, Sen. Cruz declared that Bitcoin mining can be utilized to tab energy obtained from non-renewable sources like oil and gas rather than burning or wasting it, positing that there is “enormous opportunity for Bitcoin to capture that gas instead of wasting it.” He also believes that the whole of the United States should be using natural gas to mine Bitcoin instead of flaring it.

“It’s being wasted because there is no transmission equipment to get that natural gas where it could be used the way natural gas would ordinarily be employed,” he added.

While he also stated that,

“Use that power to mine Bitcoin. Part of the beauty of that is the instant you’re doing it you’re helping the environment enormously because rather than flaring the natural gas you’re putting it to productive use.”

EL Salvador Also Embarks on the Journey to Power BTC Miners With Renewable Energy

The Republican Senator asserted that bitcoin mining is to be mobilized as a reflexive response to the fluctuations in energy supply and in an event of a sudden power outage or shortage, the energy could be returned back to the power grid immediately.

“The beauty of Bitcoin mining is that if you can connect to the internet, you can use that energy and derive value from those renewables in a way that would be impossible otherwise.”

He also tactfully added that,

“In five years I expect to see a dramatically different terrain with Bitcoin mining playing a significant role in strengthening and hardening the resilience of the grid.”

Noting that Bitcoin can be used to capture unutilized energy across the globe, he stated that: “There are a lot of places on Earth where the sun shines a lot and the wind blows a lot but there aren’t any power lines and it's not economically feasible to use that energy.”

And with El Salvador announcing its recent project of tapping volcanic energy to power the bitcoin mining, Cruz has been proven right in his conviction that the flagship currency can actually prove to be a boon for the impending global energy crisis.

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