“Texas Should Become a Cryptocurrency Mining Center”

Texas State Senator Ted Cruz stated that he wants Texas to become a hub for Bitcoin and other cryptocurrencies. Speaking at the recently held Blockchain Summit 2022, the politician stated that cryptocurrencies will have a significant impact on the technological development of the United States.

Touching on the mining activities of cryptocurrencies, Cruz stated that the energy arising from the current oil and gas extraction can be used for Bitcoin mining. Thus, the senator, who said that money flow could be provided to the region, stated that the mining activity could be turned into an opportunity.

“The beauty of bitcoin mining is that we can intervene at any time. You can shut down bitcoin mining activity in less than a second. So when needed, you can deliver that energy to the public grid to heat or cool people’s homes. This is a very useful and tremendous feature.”

Stating that they offer very low-cost services in terms of energy prices, Cruz emphasized that due to this feature, the region has become an attractive place for the cryptocurrency industry. The senator, who describes himself as an avid fan of Bitcoin, explained it with the following sentence:

“I love Bitcoin because the government can’t control it.”

Stating that he also invests in cryptocurrencies, the Republican MP stated that he only has Bitcoin in his portfolio for now. Stating that he buys Bitcoin with his savings every week, Cruz made the following statement:

“I think Bitcoin stands for investment, opportunity and prosperity. Also, Bitcoin has become a tool for financial independence. So I see the growth of Bitcoin mining activities in Texas as a pretty big development.”

As it is known, Texas is one of the fastest growing cryptocurrency mining centers in the USA. Less regulatory oversight and lower energy costs for cryptocurrency mining create a very favorable environment in Texas.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.