Bitcoin mining could be good for US energy independence: research

Texas Republican Congressman Pete Sessions has made a bold statement about the impact of bitcoin mining not only on his state, but on the United States as a whole.

The Texas representative, a proponent of Bitcoin (BTC) mining, tweeted on March 22 that “Bitcoin mining will play a crucial role in rebuilding energy independence in the US.” His statement drew mixed reactions from both supporters and critics. Wyoming Republican Sen. Cynthia Lummis was among the supporters who answered to his tweet with a succinct “Really.”

Both lawmakers have been vocal about it Policies that support innovation in the crypto industry, not just for miners. As US consumers suffer from a gas spike Prices Global tensions have sparked debate about how the country can reduce its dependence on external energy sources.

Sessions’ view highlights a growing body of research suggesting innovations from the BTC mining industry could have global applications in industrial energy consumption and production.

How Texas Came contribute over 14% of the country’s total bitcoin hash rate, the stability of the state power grid and the environmental impact of miners has come to the fore of growing criticism, as has others mining centers around the world.

Despite these concerns, various researchers have suggested that the growing Texas mining market could reduce its net environmental impact and energy demand from the public power grid.

A March 2021 study paper detailed how flexible data centers could promote renewable energy sources. A flexible data center generates its own energy either from a small dedicated renewable power plant or draws power from the grid, depending on the current state of the grid.

According to the US Energy Information Administration (EIA), Texas is already the country of the country leading wind power generator. Therefore, miners may already have access to renewable energy when they are needed. Encouraging miners to use a flexible data center model could spur greater growth in renewable energy accessibility and reliability. The paper explained:

“Therefore, the (integrated energy system) can contribute to grid stability by using locally generated electricity instead of feeding it into the grid.”

The software solution company Lancium has published something similar research last October. It concluded that the growth of the mining industry and the implementation of a flexible data center model by more operations are likely to prevent congestion in the energy grid while encouraging the growth of renewable energy sources. Researcher Joshua D. Rhodes, Ph.D. said in the newspaper.

“As grids move to incorporate more intermittent resources like wind and solar, flexible demand will play an increasingly important role in keeping the power grid system stable.”

Related: New York’s Bitcoin Mining Moratorium Act has increased support

Texas is one important center of bitcoin mining in the United States as Hive blockchainRiot Blockchain, Argo Blockchain and others operate in the Lone Star State.