The post Ted Cruz introduces FLARE Act to incentivize Bitcoin mining with waste gas appeared on BitcoinEthereumNews.com.

United States Senator Ted Cruz has introduced a new bill that offers tax incentives for cryptocurrency miners using flared natural gas to power mining operations. In an April 1 announcement, Cruz unveiled the Facilitating Lower Atmospheric Released Emissions Act, which he believes will make Texas the “number one place for Bitcoin mining.” The FLARE Act proposes a change to the U.S. tax code that would allow companies to permanently deduct the full cost of systems designed to capture and repurpose natural gas that would otherwise be flared or vented.  These systems, called flaring and venting mitigation systems, would qualify for 100% expensing starting in 2026. To qualify, the equipment must intake natural gas and convert it into something useful, like electricity, liquid fuels, or even computational power for digital asset mining.  The bill lists several eligible uses, including compressing or liquefying gas for transport, producing petrochemicals or fertilizer, and powering oilfield equipment or the electrical grid. Besides the incentives, the bill blocks foreign entities of concern, including those tied to China, Russia, Iran, or North Korea, from benefiting from the incentives. This clause is meant to keep the tax break exclusive to U.S.-aligned operators and strengthen domestic energy independence. By turning stranded gas into usable energy, Cruz and supporters argue the bill would not only cut emissions but also boost energy innovation and grid resilience, especially during periods of peak demand or extreme weather. “This bill takes advantage of Texas’s vast energy potential, reinforces our position as the home of the Bitcoin industry, and is good for the environment. I call upon my colleagues to expeditiously take up and advance this legislation,” Cruz said. The bill has already picked up support from industry players who see it as a win-win for both energy and innovation. Bitcoin mining firm MARA Holdings…

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Filed under: News - @ April 2, 2025 11:27 am