Texas Senator Ted Cruz holds on to the belief that crypto mining has a positive impact on the economy and environment. This seems to be the reason why Texas is one of the most crypto-friendly cities and home to many Bitcoin (BTC) mining companies.
Speaking in a Q&A session at the Texas Blockchain Summit, Ted Cruz, a United States senator and longstanding Bitcoin proponent showed support for Bitcoin mining and commented that cryptocurrency is a big net plus for the environment.
The Republican Senator said, “I think cryptocurrency is a net plus for the environment. In fact, a big net plus for the environment.” To buttress the fact that Bitcoin mining aids in power regulation and distribution, he added;
“Because of the ability of Bitcoin mining to turn on or off instantaneously, if you have a moment where there’s a power shortage and a power crisis, whether it is a freeze or some other natural disaster where power generation capacity goes down, that creates the capacity to instantaneously shift that energy to put it back on the grid.”
In a case where unused energy like flared gas is channeled and utilized for Bitcoin (BTC) mining, the Texas senator firmly said that it is a net positive for Texas and the United States in general. It is worth noting that many Bitcoin (BTC) mining companies in Texas like Giga Energy Solutions utilized unwanted natural gas to mine BTC.
“Being able to unlock a lot of renewables is really important for the environment. I think being able to take stranded natural gas and put it to productive use is a big positive for the environment,” Senator Ted Cruz also stated.
Related: Tesla Owners Mine Bitcoin and Ethereum Using Power from Their Idle Cars
The Merge Impact
This is contrary to some beliefs that crypto mining is detrimental to the environment as it is highly energy intensive and consumes a lot of electricity. On these grounds too, the Ethereum blockchain, which operates using the proof-of-work (PoW) mechanism that supports mining, is set to transition to proof-of-stake (PoS).
Proof-of-stake (PoS) mechanism is said to be a greener approach to running cryptocurrency networks as it involves crypto staking rather than the energy-intensive crypto mining PoW strategy.
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