Believes BTC Can Be Proven as a Valuable Asset in the Energy Industry

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Financial report: U.S. Republican Senator Ted Cruz stated on social media that Texas is a hub for employment, innovation, and freedom, making it a natural haven for Bitcoin mining. These operations can enhance the resilience of our power grid as they can shut down during inclement weather and release power for heating or cooling homes. Cruz finds Bitcoin more attractive due to its decentralization and its secure network. Because the Bitcoin network relies on a proof-of-work consensus mechanism, it involves a decentralized network of computers worldwide working together to solve cryptographic puzzles to verify transactions. In return for the computational power contributed to the Bitcoin network by nodes, it receives newly issued Bitcoins as rewards. Additionally, validators confirming transactions in the network also receive BTC as rewards. Cruz stated that the Bitcoin network is open-source. Anyone worldwide can participate and earn money. This approach serves as a fair mechanism for issuing new Bitcoins by harnessing the computational power of computers worldwide. He believes Bitcoin can be proven as a valuable asset in the energy industry.