Texas Republican Pete Sessions has issued a bold statement about the impact of Bitcoin mining on his state as well as the United States as a whole.
Representative of Texan, a supporter of Bitcoin (BTC) mining, Tweet “Bitcoin mining plays an important role in rebuilding US energy independence,” he said on March 22. His remarks elicited a mixed bag of reactions from both supporters and critics. Wyoming Republican Senator Cynthia Lummis Responded Concise “certainly” in his tweet.
#Bitcoin Mining plays an important role in rebuilding US energy independence
— Pete Sessions (@PeteSessions) March 21, 2022
Both lawmakers have endorsed policies that support innovation in the crypto industry, not just miners. Consumers in the United States are suffering from rising gas prices due to global tensions, and there is growing debate about how countries can reduce their reliance on external energy sources.
The session’s views highlight a growing compilation of studies suggesting that innovations from the BTC mining industry may have global applications in industrial energy consumption and production.
As Texas now accounts for 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, like other mining hubs around the world, is the source of growing criticism. I’m on the front line.
Despite these concerns, various researchers suggest that the growing mining market in Texas can reduce its net environmental impact and energy demand on the public energy grid.
A March 2021 research treatise details how flexible data centers can promote renewable energy resources. Flexible data centers either generate their own energy from a small dedicated renewable energy power plant or draw power from the grid, depending on the current state of the grid.
According to the Energy Information Administration (EIA), Texas is already one of the country’s leading wind turbines. Therefore, miners may already have access to renewable energy when needed. By encouraging miners to use flexible data center models, we can significantly improve the accessibility and reliability of renewable energies. The treatise states:
“Therefore, (integrated energy systems) may contribute to the stability of the grid by using it locally instead of supplying the generated power to the grid.”
Software solution company Lancium released similar findings last October. We conclude that as the mining industry grows and more operations implement flexible data center models, it is likely to drive the growth of renewable energy resources while preventing energy grid shortages. Researcher Joshua D. Rhodes said in his dissertation.
“As the grid moves toward incorporating higher levels of intermittent resources such as wind and solar, flexible demand will play an even more important role in stabilizing power grid systems.”
Related: New York Bitcoin Mining Moratorium Bill Get More Support
Texas is an important hub for Bitcoin mining in the United States, as Hive blockchain, Riot blockchain, Argo blockchain and others operate in Lone Star.