U.S. Senators propose the FLARE Act, aiming to convert wasted energy into electricity for Bitcoin mining

According to ChainCatcher news reported by Decrypt, U.S. Senator Ted Cruz from Texas officially introduced the "Facilitate Lower Atmospheric Released Emissions" (FLARE) Act on March 31, aimed at converting wasted natural gas that would otherwise be flared or vented into electricity for Bitcoin mining.

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

Experts in the energy sector believe that Bitcoin miners can reduce greenhouse gas emissions in this way while converting wasted energy into valuable digital assets, achieving a win-win for both the economy and the environment.