Republican Congressman from Texas Pete Sessions has made a bold statement about the impact bitcoin mining will have not just in his state, but across America..
The Texan representative, a supporter of bitcoin (BTC) mining, tweeted on March 22 that “Bitcoin mining will play a critical role in rebuilding America’s energy independence”. His statement elicited a mixed reaction from both supporters and detractors. Wyoming Republican Senator Cynthia Lummis was among the supporters who they answered to his tweet with a terse “Indeed”.
#bitcoin Mining will play a critical role in rebuilding energy independence in the USA
— Pete Sessions (@PeteSessions) March 21, 2022
Bitcoin mining will play a critical role in rebuilding energy independence in the US.
Both legislators have been advocates for policies that support innovation in the cryptocurrency industry, not just for miners. As US consumers suffer from rising gasoline prices due to global tensions, debate has intensified over how the country can reduce its reliance on foreign energy sources..
Sessions’ opinion highlights a growing body of research suggesting that BTC mining industry innovations could have global applications in industrial energy consumption and production.
As Texas has come to contribute more than 14% of the country’s total bitcoin hash rate, the stability of the state’s power grid and the environmental impact of miners have come to the forefront of growing criticism.as has happened in other mining centers around the world.
Despite those concerns, several researchers have suggested that the growing mining market in Texas could reduce its net environmental impact and energy demands on the public power grid.
A March 2021 research paper details how flexible data centers could promote renewable energy resources. A flexible data center generates its own power from a small dedicated renewable power plant or draws power from the grid based on the current state of the grid.
According to the US Energy Information Administration (EIA), Texas is already the number one generator of wind power in the country. Therefore, miners can already have access to renewable energy when they need it.. Encouraging miners to use a flexible data center model could spur further growth in the accessibility and reliability of renewable energy. The document stated:
“Therefore, the (integrated energy system) can contribute to grid stability by using locally generated electricity instead of injecting it into the grid.”
Software solutions company Lancium published a similar study last October. He concluded that As the mining industry grows and more operations implement a flexible data center model, it is likely to avoid grid power shortages and encourage the growth of renewable energy resources. Researcher Joshua D. Rhodes, Ph.D., said in the paper:
“As grids move to incorporate higher levels of intermittent resources, such as wind and solar, flexible demand will play an increasingly important role in keeping the electrical grid system stable.”
Texas is a major bitcoin mining hub in the United Statesas Hive Blockchain, Riot Blockchain, and Argo Blockchain, among others, have operations in the Lone Star State.
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