US lawmakers ask questions about EPA and DOE monitoring of crypto-mining emissions and energy consumption
U.S. lawmakers suspect cryptocurrency mining is 'problematic' for energy use and emissions, while Paraguay is ready to offer incentives to the crypto industry, including miners.
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Democratic lawmakers from both houses of the United States Congress sent a letter to the Environmental Protection Agency (EPA) and the Department of Energy (DOE) informing them of their findings on the energy consumption of cryptocurrency mining and ask agencies to require mining to report their emissions and energy consumption. Meanwhile, the Paraguayan Senate, the upper house of that country's legislature, has passed a comprehensive bill to regulate cryptocurrency and allow miners to use excess electricity generated in the country.
The six US lawmakers, led by crypto cynical Elizabeth Warren, noted in their July 15 letter that crypto mining in the US has increased since it was banned by China last year . The seven crypto-mining companies that responded to lawmakers' request for information revealed a collective capacity of 1,045 MW of electricity, which is equivalent to all residences in Houston, TX, the nation's fourth-largest city. .
Energy consumption by crypto miners drives up prices for other consumers, the letter claims, citing government and academic studies and a news article. He dismissed the energy efficiency claims of miners, saying, “These and similar promises about using clean energy hide a simple fact: Bitcoin miners use huge amounts of electricity that could be used for other priority end uses that contribute to our electrification and climate goals."
My investigation shows that cryptominers use an exorbitant amount of energy with little or no public disclosure.
Regulators should demand more transparency so that all Americans can...
U.S. lawmakers suspect cryptocurrency mining is 'problematic' for energy use and emissions, while Paraguay is ready to offer incentives to the crypto industry, including miners.
New
Democratic lawmakers from both houses of the United States Congress sent a letter to the Environmental Protection Agency (EPA) and the Department of Energy (DOE) informing them of their findings on the energy consumption of cryptocurrency mining and ask agencies to require mining to report their emissions and energy consumption. Meanwhile, the Paraguayan Senate, the upper house of that country's legislature, has passed a comprehensive bill to regulate cryptocurrency and allow miners to use excess electricity generated in the country.
The six US lawmakers, led by crypto cynical Elizabeth Warren, noted in their July 15 letter that crypto mining in the US has increased since it was banned by China last year . The seven crypto-mining companies that responded to lawmakers' request for information revealed a collective capacity of 1,045 MW of electricity, which is equivalent to all residences in Houston, TX, the nation's fourth-largest city. .
Energy consumption by crypto miners drives up prices for other consumers, the letter claims, citing government and academic studies and a news article. He dismissed the energy efficiency claims of miners, saying, “These and similar promises about using clean energy hide a simple fact: Bitcoin miners use huge amounts of electricity that could be used for other priority end uses that contribute to our electrification and climate goals."
My investigation shows that cryptominers use an exorbitant amount of energy with little or no public disclosure.
Regulators should demand more transparency so that all Americans can...
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