A U.S. Senator proposes the FLARE Act, aiming to convert abandoned energy into electricity for Bitcoin mining

According to Decrypt, on March 31, Republican Senator Ted Cruz of Texas officially proposed the "Facilitate Lower Atmospheric Released Emissions" (FLARE) bill. The aim is to convert wasted natural gas that would otherwise be burned or emitted into electricity for Bitcoin mining. This bill will provide businesses with a full tax deduction for equipment used to capture wasted natural gas and limit participation from countries such as China, Iran, North Korea, and Russia in related activities. Cruz stated that this move could not only improve energy market efficiency and enhance grid resilience but also help Texas become the "preferred location for Bitcoin mining". Energy experts believe that Bitcoin miners can reduce greenhouse gas emissions through this method while converting wasted energy into valuable digital assets, achieving a win-win situation for both economy and environment.