Mar 29, 2022 04:50
Pete Sessions, Texas rep, stated clearly that the growth of the Bitcoin mining sector could expand energy independence in the US. US Congressman Peter Sessions has graced the public with an audacious statement on Bitcoin mining in the country. Pete suggests that Bitcoin mining will significantly impact the United States’ power independence in his commentary. In a tweet, the Texan rep, a Bitcoin mining supporter, took to the public on Tuesday, announcing that Bitcoin mining plays a vital role in redeveloping the United States’ energy independence. His statement attracted tons of reactions from both critics and proponents. Related Reading | Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining Among the proponents was Senator Cynthia Lummis of Wyoming, who retweeted the post and commented on the tweet with a brief “Indeed.” Both Lawmakers Have Commented An Innovation Of The Crypto Industry Both Statespersons have been outward supporters of policies that promote further development in the crypto sector.. Currently, United States residents struggle with exorbitant gas prices because of global tensions. Thus, debates have been spurring about how the United States can minimize its reliance on external energy providers. Impact Of Texas Bitcoin Mining On The Economy Session’s perspective highpoints an increasing volume of research that suggests the developments from the Bitcoin mining sector could impact industrial energy production and consumption on a global scale. Presently, Texas has arisen to contribute more than 14% of the US’s total Bitcoin hash rate. The Texas electrical grid’s stability and the impact of miners on the environment have emerged at the frontline of the increasing criticism. This is happening just similarly to other crypto mining hubs across the world. Regardless of these concerns, several researchers have projected that Texas’s increasing Bitcoin mining industry could minimize its net energy demands and environmental impact on the mainstream energy grid. In March 2021, a research paper outlined how versatile data centers could endorse renewable energy resources. A flexible data center produces its power either from a smaller specific renewable power plant or receives energy from the grid, depending on the power grid’s present state. United States EIA’s Data Data from the United States EIA (Energy Information Administration), Texas emerged as the country’s top wind power generator. Thus, crypto miners may already have the renewable energy they require. Transferring the crypto miners to use the flexible data center structure could rally expansion in renewable energy reliability and accessibility. Related Reading | TA: Ethereum Gains Traction, A Strengthening Case For More Gains Software innovations company Lancium released similar research in October 2021. It concluded that the growth of the crypto mining industry and the increase in flexible data implementation. It would inhibit energy grid shortages while simultaneously increasing the development of renewable energy resources. Featured image from Pexels, chart from TradingView.com
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