Bitcoin mining could be good for US energy independence: Research

Texas Republican Congressman Pete Sessions has made bold statements about the potential impact of Bitcoin mining on not only his state, but the entire United States.

On March 22, the Texas representative was a proponent for Bitcoin (BTC). His tweet drew mixed reactions from supporters and critics. Wyoming’s Republican Senator Cynthia Lummis responded to his tweet with an eloquent “Indeed”

#Bitcoin Mining will play an important role in rebuilding America’s energy independence
— Pete Sessions (@PeteSessions), March 21, 2022

Both lawmakers are vocal supporters of policies that encourage innovation in the crypto sector, and not just for miners. The debate over how the United States can cut its dependence on foreign energy has intensified as U.S. consumers are suffering from an increase in gas prices because of global tensions.

Sessions’ perspective highlights the growing collection of research that suggests that the BTC mining industry’s innovations could have global applications for industrial energy production and consumption.

Texas now contributes over 14% to the country’s total Bitcoin haveh rate. This has led to growing criticism of both the stability of Texas’s electric grid and the environmental impacts of miners.

However, many researchers believe that Texas’s growing mining industry could have a positive impact on the environment and reduce the demand for energy from the public grid.

Research paper dated March 2021 outlined how flexible data centers can promote renewable energy resources. A flexible data center can either generate its own power using a small renewable power plant, or draw power from the grid depending upon the current grid state.

According to the U.S Energy Information Administration (EIA), Texas has been the nation’s top wind power generator. Miners might have access to renewable power when they need it. A flexible data center model that encourages miners could lead to greater reliability and accessibility of renewable energy. According to the paper:

“The (integrated Energy System) can contribute to grid stability by using locally generated electricity rather than feeding it into the grid.”

Similar research was published by Lancium, a software solutions company. The research concluded that the flexible data center model will be beneficial for both the energy grid and the mining industry. The paper was written by Joshua D. Rhodes (Ph.D.).

Flexible demand will become more important as grids incorporate higher levels of intermittent resources like solar and wind to keep the grid stable.

Related: New York Bitcoin mining moratorium bill gets more support

Texas is home to Hive Blockchain and Riot Blockchain as well as Argo Blockchain and other companies.

https://cointelegraph.com/news/bitcoin-mining-could-be-good-for-us-energy-independence-research