ICYMI - Ted Cruz Is Going to Bat for Cryptocurrency in the U.S. Senate
The crypto miners have found an ally in U.S. Sen. Ted Cruz.is the operator of the largest bitcoin mining facility in the country, and it's right here in the Lone Star State. Its facility in Rockdale has a total power requirement of 750 megawatts. That’s small potatoes compared to a 1 gigawatt facility the company is building in Navarro County, just outside Corsicana. That’s enough to power 300,000 to 1 million U.S. homes.
Meanwhile, as work continues on what will be the largest bitcoin mining facility in the world, Riot Blockchain is facing resistance from locals in Navarro County. One resident in the county, Jackie Sawicky, started a petition and Facebook page to oppose the new operation. Sawicky and others are concerned that another crypto mining facility could cause additional strain on the Texas power grid and local water supplies.Cruz, crypto bros and the like have no doubt heard these concerns before.
“One of the things that excites me most about crypto mining in Texas is the ability to enhance resiliency of the electric grid because, in a severe weather emergency, mining can be turned off instantaneously,” Cruz said in an emailed statement to the. “This in turn immediately frees up substantial power for Texans to use, essentially allowing the mining facility to serve as a massive battery for the grid.
In a press release about his bill that would prevent the feds from doing this, Cruz said a U.S. digital currency could be used to monitor people’s transactions.
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