Texas Should Use Abundant Energy for Bitcoin Mining, Says Ted Cruz
- The US Senator highlighted the potential benefits of BTC mining through natural gas.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining has always been the hottest topic for discussions among the crypto community. Despite the latest jump in its adoption and price, the world’s largest cryptocurrency has been criticized for the significant use of energy in its mining. However, in the last few months, several influential figures in the global crypto community have encouraged the use of environment-friendly energy resources for BTC mining.
Ted Cruz, the US Senator from Texas, recently addressed the Texas Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Summit and mentioned that the state can use abundant energy for Bitcoin mining. Additionally, Cruz highlighted the key benefits of Bitcoin mining through natural gas. “We are the number 1 wind energy producer in the country. Secondly, if you look at natural gas right now, a massive amount of natural gas is being flared in West Texas. I think that is an enormous opportunity for Bitcoin because that energy is being wasted,” Cruz said.
The latest statement from the US Senator came nearly 4 months after Francis Suarez, the Mayor of Miami, said that the city is planning to reduce the cost of electricity to facilitate Bitcoin miners. Suarez added that Miami can provide clean energy for BTC mining. Suarez is the holder of BTC and Ethereum. In an interview with CNBC in June 2021, the Mayor of Miami said that he purchased BTC near $30,000 and Ethereum near $1,500.
Bitcoin Mining
In his latest comments, Cruz said that BTC mining is a massive opportunity for Texas. “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. And, I think we are going to see in the next five years massive innovations in that regard as well,” the US Senator added.
BTC's mining rate has recovered quickly after the recent dip caused by China’s crypto ban. Furthermore, Bitcoin mining revenues have increased sharply during the latest recovery.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining has always been the hottest topic for discussions among the crypto community. Despite the latest jump in its adoption and price, the world’s largest cryptocurrency has been criticized for the significant use of energy in its mining. However, in the last few months, several influential figures in the global crypto community have encouraged the use of environment-friendly energy resources for BTC mining.
Ted Cruz, the US Senator from Texas, recently addressed the Texas Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Summit and mentioned that the state can use abundant energy for Bitcoin mining. Additionally, Cruz highlighted the key benefits of Bitcoin mining through natural gas. “We are the number 1 wind energy producer in the country. Secondly, if you look at natural gas right now, a massive amount of natural gas is being flared in West Texas. I think that is an enormous opportunity for Bitcoin because that energy is being wasted,” Cruz said.
The latest statement from the US Senator came nearly 4 months after Francis Suarez, the Mayor of Miami, said that the city is planning to reduce the cost of electricity to facilitate Bitcoin miners. Suarez added that Miami can provide clean energy for BTC mining. Suarez is the holder of BTC and Ethereum. In an interview with CNBC in June 2021, the Mayor of Miami said that he purchased BTC near $30,000 and Ethereum near $1,500.
Bitcoin Mining
In his latest comments, Cruz said that BTC mining is a massive opportunity for Texas. “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. And, I think we are going to see in the next five years massive innovations in that regard as well,” the US Senator added.
BTC's mining rate has recovered quickly after the recent dip caused by China’s crypto ban. Furthermore, Bitcoin mining revenues have increased sharply during the latest recovery.