MARA Holdings and VanEck's head of digital assets research have supported Texas Senator Ted Cruz's proposed FLARE Act, introduced on April 1. The legislation aims to incentivize crypto miners to use flared gas for energy production in Texas, with the goal of making the state a leading hub for Bitcoin mining. The FLARE Act seeks to amend the US Internal Revenue Code to encourage market participants, including digital asset miners, to capture gas that would otherwise be flared or vented, allowing its use in generating value-added products. If enacted, the law would apply to properties starting service in 2026. Cruz, a Republican senator since 2013, has previously taken stances aligned with mainstream party figures and recently proposed legislation against a Federal Reserve digital currency and reported holding up to $100,000 in Bitcoin by August 2024.

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