Companies in the coin minting industry have been actively seeking out friendlier countries to relocate their operations due to the ongoing crackdown in China on cryptocurrency mining. There are some potential destinations in the U.S. with Florida and Texas being two of the most prominent. Both states offer affordable energy to crypto miners.
Wyoming has been positive about cryptocurrency for some time and could easily be the next Bitcoin mining hotspot. Wyoming Senator Cynthia Lummis is a well-known supporter Bitcoin and recently used Twitter to invite crypto miners to join the state.
– Cynthia Lummis, @CynthiaMLummis July 3, 2021
Lummis posted a tweet on Saturday defending Bitcoin’s environment record. Referring to research at the University of Cambridge that showed bitcoin mining uses approximately 40% renewable energy, while the indicator is only 12% for the non-bitcoin mining industry, the senator said: She stressed:
Bitcoin mining is more eco-friendly than other non-carbon emitting energy sources.
Cynthia Lummis: Bitcoin mining is not a bad energy guy
The Wyoming senator also pointed out the ‘innovations that’re happening behind-the scenes’ in crypto mining, pointing to her own state as an example. Lummis explained that Wyoming is an oil-and-gas producer and that a new well is not initially connected to a pipeline when it is drilled. With mobile mining platforms that are easily installed and operated near the source, Bitcoin miners help to use the gas.
“I would say that you shouldn’t view bitcoin mining as an energy-bad guy. The lawmaker stated that there are many things to support this conclusion. Cynthia Lummis noted that cryptocurrency mining has been a boon to the drilling industry, as it keeps carbon out of our atmosphere and allows us to create another product with it in the form bitcoin.
In the U.S., there is a race to attract crypto miners. Miami Mayor Francis Suarez has recently tried to attract companies that are moving to America. In another interview with CNBC Suarez stated that he wanted them to be there and highlighted the fact that their region is dependent on nuclear power, which is a source for clean, cheap electricity.