Bitcoin has often been criticized for its high energy consumption used by the mining process of the proof-of-work blockchain network. However, where some see a problem, others see opportunity. One such ‘others’ is the U.S. state, Texas, which has been proactively attracting Bitcoin miners.
Brad Jones, the interim CEO of ERCOT – short for the Electric Reliability Council of Texas which powers about 90% of the state, revealed that he is pro-Bitcoin. He made the statement while touring the state and holding town hall meetings with energy consumers.
“I’m pro bitcoin…but I’m too risk-averse to be an investor in bitcoin,” Jones told a crowd of residents in Frisco, Texas.