US senator Ted Cruz has proposed using the energy generated from oil and gas production to mine Bitcoin, he stated this as part of a speech at the Texas Blockchain Summit.
The politician explained:
“Use this energy to mine Bitcoin. The beauty is that you will greatly help the environment, because you will use natural gas for productive work.”
According to the senator, about half of the volume of natural gas flared in the United States comes from West Texas. The resource is wasted due to the lack of equipment to use it, he added.
Cruz noted Bitcoin has the ability to “absorb gas instead of burning it” to reap benefits and preserve the environment. According to the senator, this approach can be extended to the whole world.
The politician also noted the ability of miners to respond to demand and return energy to the network when needed.
At the end of May 2021, US mining company Marathon Digital Holdings announced it is building a data center in Texas with a capacity of 300 MW. The new facility is planned to be made 70% carbon-neutral.