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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
👉 Profile: https://www.gate.com/profile/Kevin%20Lee
Let’s give Kevin_Lee a warm welcome! 👏👏👏
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U.S. Senator Cruz has proposed the FLARE Act, aimed at converting wasted energy into electricity for Bitcoin mining.
According to a report by Decrypt on April 2, Deep Tide TechFlow announced that on March 31, U.S. Senator Ted Cruz from Texas officially introduced the "Facilitate Lower Atmospheric Released Emissions" (abbreviated as FLARE) bill, aimed at converting abandoned natural gas that would otherwise be burned or emitted into electricity for Bitcoin mining.
The bill will provide businesses with a full tax deduction for capturing waste natural gas equipment while restricting countries such as China, Iran, North Korea, and Russia from participating in related activities. Cruz stated that this measure will not only improve energy market efficiency and enhance grid resilience but will also help Texas become the "preferred location for Bitcoin Mining."
Energy sector experts believe that Bitcoin miners can reduce greenhouse gas emissions in this way while converting wasted energy into valuable digital assets, achieving a win-win situation for both the economy and the environment.