On April 2nd, Senator Ted Cruz of the United States announced the introduction of the "Facilitating Low Emissions Energy Utilization (FLARE) Act," a federal proposal aimed at converting wasted energy into effective use through targeted tax reforms. The federal bill seeks to: amend the 1986 Internal Revenue Code to provide for the full expensing of property used to capture natural gas that would otherwise be flared or emitted, and used for value-added products. Cruz described this measure as a strategic step to leverage the state's abundant energy supply and strengthen its leadership position in the digital asset space. The senator stated: "I am committed to making Texas the premier destination for Bitcoin mining. The 'FLARE Act' incentivizes entrepreneurs and cryptocurrency miners to utilize stranded natural gas."
US Senator Introduces FLARE Act to Support Bitcoin Mining Industry Development
2025-04-02 12:03:48 Primitive Reading
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