US Senator Introduces FLARE Act to Convert Waste Energy into Power for Bitcoin Mining

On April 2nd, according to Decrypt, Ted Cruz, a Republican senator from Texas, officially introduced the "Facilitate Lower Atmospheric Released Emissions" (FLARE) Act on March 31st, aiming to convert waste natural gas that would have been burned or emitted into electricity for Bitcoin mining.

The bill will provide full tax deductions for businesses that capture waste natural gas equipment, while also restricting participation in related activities from countries such as China, Iran, North Korea, and Russia. Cruz stated that this measure will not only improve energy market efficiency and enhance grid resilience, but also help Texas become the "preferred location for Bitcoin mining."

Energy experts believe that Bitcoin miners can reduce greenhouse gas emissions through this method, while also converting waste energy into valuable digital assets, achieving a win-win situation for the economy and the environment.