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“We Want You In Wyoming,” U.S. Senator Tells Bitcoin Miners

Mining 2021/07/03 21:17 by Newton Gitonga
Tesla Will Reinstate Bitcoin Payments Once Green Energy Usage By Miners Reaches 50%, Elon Musk Reveals

Outspoken conservative Republican Senator Cynthia Lummis has invited Bitcoin miners to her state of Wyoming.

Speaking to CNBC, she expressed her approval of the ability of Bitcoin mining to use about 40% of renewable energy sources compared to traditional mining methods that only use about 12%.

This comes in the wake of China cracking down on Bitcoin miners after banning the use and mining of Bitcoin in Mainland China and other Chinese provinces in May this year.

Senator Cynthia has praised Bitcoin citing it as a great invention that has encouraged a lot of innovation around it and should be adopted. She also gave the case of El Salvador which passed a law to make Bitcoin its legal tender, citing that this will greatly reduce the time and fees used in sending money to relatives in El Salvador by their people who work in the U.S. 

She joins other pro-crypto lawmakers such as Texas governor Greg Abbott and Miami Mayor Francis Suarez who have openly promoted the idea of mining and making payments using Bitcoin. Furthermore, she believes the gains of mining largely outweigh the risks and could be a solution to traditional mining hazards and waste.

Her call is in line with the international community’s agreement for countries to embrace the use of renewable energy sources in a bid to curb the surging global warming index.

Following China’s ban on Bitcoin mining and trading, the U.S.A has experienced what has been termed as “the great mining migration” as Chinese miners look to establish their businesses in various US states such as Texas.

Brandon Arvanagh, a former Engineer at Gemini, says that to see a dramatic shift over the next few months as more lawmakers embrace mining. He believes crypto mining is set to become a huge and sustainable industry in the United States now that more miners are leaving unpredictable China for States in the U.S.A.

“Bitcoin goes from weak to strong hands. Just the same, the Bitcoin network goes from flimsy hashes to strong hashes. Hashrate is leaving the unpredictable China for Texas, where mining farms are secured by states’ rights and guns. Rejoice!” 

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