Crypto miner backs US senator's efforts to incentivize using flared gas

Quick Summary:

In 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 “the number one place for Bitcoin mining.” 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 “unlock stranded energy.”April 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 — including digital asset miners — to “capture gas that would otherwise be flared or vented and to use such gas in value-added products.” If signed into law, the legislation would take effect on properties put into service starting in 2026.

Crypto bills moving through US CongressIn addition to the energy incentives proposed in the bill, Cruz ​​said the language “prohibits entities owned by China, Iran, North Korea, or Russia” that may be operating in Texas from recovering their costs in the same manner.

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Author / Journalist: Cointelegraph by Turner Wright

Category: Crypto

Markets: United StatesChinaNorth Korea

Topics: Digital Senator Flare Cruz Bitcoin Texas Crypto Mara Proposed Legislation Bill

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-01 @ 22:47:18 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 360 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27524074

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