Key Points
- U.S. Senator Ted Cruz views Bitcoin as a potential energy safety net for Texas’s grid infrastructure.
- Concerns arise over Bitcoin mining in Texas due to noise pollution and health issues.
U.S. Senator Ted Cruz recently spoke at a Texas Blockchain Council event. He referred to Bitcoin as an energy safety blanket for Texas’s grid infrastructure.
Bitcoin as an Energy Safety Net
Cruz suggested that Bitcoin could provide a reservoir of power. This could strengthen the state’s grid infrastructure during extreme weather events or periods of economic uncertainty. He stated, “Bitcoin presents an opportunity in real-time to enhance the resiliency of our grid.”
However, Bitcoin mining in Texas has raised concerns about noise pollution and health issues for residents. This highlights the need for improved regulations.
Ted Cruz’s Support for Crypto
The Texas Blockchain Council endorsed Ted Cruz for reelection to the U.S. Senate on August 12. They praised his support for Bitcoin and its potential benefits for Texas’ energy grid. Cruz is currently leading Democrat Colin Allred by eight points in a recent poll.
In his speech, Cruz noted that Texas, the top U.S. state in wind energy production, faces challenges during severe weather. Renewable energy sources like wind and solar often fail to generate enough power. Cruz argued that Bitcoin miners could be quickly shut down during such events, redirecting the electricity they consume to essential needs like heating homes and powering hospitals.
Recently, Texas has been a center for crypto mining disputes between miners and the government. A Texas crypto mining firm, Lejilex, sued the SEC, disputing its authority over exchange-traded crypto and the classification of certain tokens as securities.
