Bitcoin mining could be good for US energy independence, research says

Republican Congressman from Texas Pete Sessions has made a bold statement about the impact bitcoin mining will have not just in his state but across America.

The Texas representative, a supporter of Bitcoin (BTC) mining, tweeted on March 22 that “Bitcoin mining will play a crucial role in rebuilding America’s energy independence”. His statement drew mixed reactions from both supporters and critics. Republican Wyoming Senator Cynthia Lummis was among the supporters they answered to his tweet with a terse “Indeed”.

Both lawmakers have pushed for policies that support innovation in the cryptocurrency industry, not just for miners. As US consumers suffer from rising gasoline prices amid global tensions, debate has intensified over how the country can reduce its reliance on foreign energy sources..

Bitcoin mining could be good for US energy independence, research says
Bitcoin mining could be good for US energy independence, research says

Sessions Opinion highlights a growing body of research that suggests so BTC mining industry innovations could find global applications in industrial energy production and consumption.

With Texas now contributing 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 have come to the foreas has happened in other mining centers around the world.

Despite these concerns Several researchers have suggested that the growing Texas mining market could reduce its net environmental impact and energy requirements for the public grid.

A research paper from March 2021 describes how flexible data centers could promote renewable energy sources. A flexible data center generates its own electricity from a small dedicated renewable power plant or draws power from the grid based on the current state of the grid.

According to the US Energy Information Administration (EIA), Texas is already the nation’s top wind power producer. Therefore, miners can already have access to renewable energy when they need it.. Encouraging miners to adopt a flexible data center model could spur further growth in renewable energy accessibility and reliability. The document states:

“Therefore, the (integrated energy system) can contribute to grid stability by using locally generated electricity instead of feeding it into the grid.â€

Software solutions company Lancium published a similar study last October. He came to the conclusion As the mining industry grows and more operations implement a flexible data center model, this will likely avoid grid power congestion and encourage the growth of renewable energy sources. Researcher Joshua D. Rhodes, Ph.D. said in the paper:

“As grids move to integrate more and more intermittent resources such as wind and solar, flexible demand will play an increasingly important role in keeping the power grid system stable.â€

Texas is a major Bitcoin mining center in the United Statessince Hive Blockchain, Riot Blockchain and Argo Blockchain, among others, operate in the Lone Star State.

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