{"id":126271,"date":"2025-04-01T22:15:34","date_gmt":"2025-04-01T22:15:34","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126271"},"modified":"2025-04-01T22:15:34","modified_gmt":"2025-04-01T22:15:34","slug":"crypto-miner-backs-us-senators-efforts-to-incentivize-using-flared-gas","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126271","title":{"rendered":"Crypto miner backs US senator&#039;s efforts to incentivize using flared gas"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsTexas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state.<br \/>\nIn an April 1 notice, Cruz said he had introduced the Facilitate Lower Atmospheric Released Emissions, or FLARE, Act in the US Senate, aiming to make Texas \u201cthe number one place for Bitcoin mining.\u201d Mining advocacy group Digital Power Network supported the bill, and Bitcoin (BTC) miner MARA Holdings endorsed the proposed legislation on X, claiming it would reduce emissions and \u201cunlock stranded energy.\u201d<br \/>\nApril 1 draft of FLARE Act. Source: Ted CruzAccording to the text of the bill, the FLARE Act proposed amending the US Internal Revenue Code to incentivize market participants \u2014 including digital asset miners \u2014 to \u201ccapture gas that would otherwise be flared or vented and to use such gas in value-added products.\u201d If signed into law, the legislation would take effect on properties put into service starting in 2026.<br \/>\nRelated: Bitcoin mining using coal energy down 43% since 2011 \u2014 Report<br \/>\nA US Senator serving since 2013, Cruz, a Republican, has sometimes proposed legislation that aligns with mainstream figures in his party, including US President Donald Trump. He introduced a bill in March to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) and disclosed personally holding up to $100,000 in Bitcoin as of August 2024.<br \/>\nCrypto bills moving through US Congress<br \/>\nIn addition to the energy incentives proposed in the bill, Cruz \u200b\u200bsaid the language \u201cprohibits entities owned by China, Iran, North Korea, or Russia\u201d that may be operating in Texas from recovering their costs in the same manner. Many US miners, including MARA, Riot Platforms and CleanSpark, operate in the state.<br \/>\nIt\u2019s unclear whether Cruz\u2019s bill will be a legislative priority in the Senate as Congress considers bills to regulate stablecoins and establish a market structure for digital assets in the US. Some lawmakers have also proposed legislation potentially banning a US CBDC and removing regulatory obstacles to allow Americans to invest in crypto for their retirement plans.<br \/>\nMagazine: Ex-Alameda hire on \u2018pressure\u2019 to not blow up Backpack exchange: Armani Ferrante, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/ted-cruz-flare-energy-crypto-miners-texas?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsTexas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state. In an April 1 notice, Cruz&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126271"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126271"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126271\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126271"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}