US senators introduce FLARE bill to support the development of bitcoin mining industry
2025-04-02 03:30:34
On April 2, U.S. Senator Ted Cruz recently announced the introduction of the Facilitating the Utilization of Lower Atmospheric Emissions (FLARE) Act, a federal proposal to convert wasted energy into efficient use through targeted tax reform. The federal bill seeks to: Amend the Internal Revenue Code of 1986 to provide for permanent full expensing of property used to capture natural gas that would otherwise be burned or discharged and use it for value-added products. Cruz described the move as a strategic step to capitalize on the state's abundant energy supply and strengthen its leadership in digital assets. "I am committed to making Texas the go-to place for bitcoin mining," the congressman said. The FLARE Act incentivizes entrepreneurs and cryptocurrency miners to take advantage of gas that would otherwise be stranded. "
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