Energy consumption comes first among the criticisms of Bitcoin. The fact that the energy used in Bitcoin mining is competitive with countries is the focus of many discussions.
Maximalists, who think that the Bitcoin network can survive with renewable energy sources, find these criticisms exaggerated and biased.
In particular, Tesla’s interruption of vehicle sales with Bitcoin, citing Bitcoin’s energy consumption, brought these discussions into focus.
The last call on this issue came from the US Senator Ted Cruz. Speaking at the Texas Blockchain Summit, the Senator stated that the energy in the state of Texas, which has become the new place for miners after China’s bans on cryptocurrency transactions and Bitcoin mining, can be used in mining.
Senator Cruz continued, noting that the US state of Texas has a huge wind resource and a huge natural gas reserve, which is ranked number one in the country:
Use this power to mine Bitcoin. The beauty of it is that when these energies are used you are helping the environment tremendously. Because instead of burning natural gas, you use it efficiently.
The senator said that the vast majority of natural gas produced in the country is burned as waste, and that more than half of natural gas burning is done in Texas. He stated that the excess natural gas produced instead of incineration offers a tremendous opportunity to be used in Bitcoin mining.
Announcing Bitcoin hash rate data in the US states at the Texas Summit, Nic Carter, co-founder of Castle Island Ventures, stated that Ted Cruz’s recommendations on Bitcoin mining are the most forward-thinking viewpoints he has ever heard from a politician on this issue.