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

Texas Senator Ted Cruz proposed a bill aimed at incentivizing crypto miners to use flared gas for energy generation in the state.

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 ( $78,513.00 ) mining.” Bitcoin ( $78,513.00 ) (BTC) miner MARA Holdings endorsed the proposed legislation on X, claiming it would reduce emissions and “unlock stranded energy.”

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According to the text of the bill, the FLARE Act proposed amending the US Internal Revenue Code to incentivize market participants — including digital asset miners — that could “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.

A US Senator serving since 2013, Cruz, a Republican, has sometimes proposed legislation that aligns with mainstream figures in his party, including US President Donald Trump. He introduced a bill in March to prohibit the Federal Reserve from issuing a central bank digital currency and disclosed personally holding up to $100,000 in Bitcoin ( $78,513.00 ) as of August 2024.