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Pro-Bitcoin Senator Cynthia Lummis invites miners to Wyoming

As China continues to intensify its crackdown on Bitcoin mining, Republican Senator Cynthia Lummis has asked BTC miners to relocate to her state of Wyoming.

PS - If you are in the #Bitcoin mining space, please reach out. We WANT you in Wyoming. https://t.co/OUPAEYTXTG
— Cynthia Lummis (@CynthiaMLummis) July 3, 2021

The pro-Bitcoin Senator voiced her approval over the ability of Bitcoin mining to utilize about 40% renewable energy sources, whereas traditional mining options use just 12%.

While speaking to CNBC, Lummis touted the flagship cryptocurrency as a remarkable invention that has encouraged a lot of innovation. Therefore, it should be adopted. She used El Salvador as a case study, noting that the move will reduce the time and fees spent sending money to residents in the Central American country from people overseas.

Other pro-crypto lawmakers such as Texas governor Greg Abbott and Miami Mayor Francis Suarez have also openly promoted the idea of adopting Bitcoin and beckoned on miners to move to their states. Lummis is confident that the pros of mining outweigh its cons since it could be a solution to traditional mining hazards.

Meanwhile, Brandon Arvanagh, a former Engineer at Gemini, foresees a dramatic shift in the crypto mining landscape over the next few months. According to him, the sector is on a trajectory to become huge and sustainable in the United States following a mass exodus of miners away from China.

Sourse: investing.com


 

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Category: News | Views: 67 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 0.0/0
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