US Senator Introduces FLARE Act to Support Bitcoin Mining Industry Development_Amazon Finance

US Senator Introduces FLARE Act to Support Bitcoin Mining Industry Development

2025-04-02 12:03:48 Primitive Reading

　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."

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