Four members of the United States House of Representatives Committee on Energy and Commerce have demanded answers from four large cryptocurrency mining companies regarding the possible effects of their energy consumption on the environment.
In letters dated Wednesday to Core Scientific, Marathon Digital Holdings, Riot Blockchain and Stronghold Digital Mining, US lawmakers Frank Pallone, Bobby Rush, Diana DeGette and Paul Tonko asked companies to provide information from 2021, including the energy consumption of its mining facilities, the source of that energy, what percentage came from renewable energy sources, and how often companies scaled back operations. The four members of the House committee also asked about the average cost per megawatt hour that companies spent mining cryptocurrency at each of their respective facilities.
“Blockchain technology holds immense promise that it can make our personal information more secure and the economy more efficient,” lawmakers said in a letter to Riot CEO Jason Les. “However, the power consumption and hardware required to support PoW-based cryptocurrencies can, in some cases, produce serious externalities in the form of harmful emissions and excess e-waste.”
NEW: E&C leaders sent a series of letters to cryptomining companies today demanding answers on what they’re doing to mitigate their energy use and offset their climate impacts. Read more here https://t.co/YDemVtZkVE
— Energy and Commerce Committee (@EnergyCommerce) August 17, 2022
E&C leaders today sent a series of letters to crypto companies demanding answers about what they are doing to mitigate their energy use and offset their climate impacts.
The petition came after US President Joe Biden signed the Inflation Reduction Act on Tuesday, a bill considered by many experts to be the biggest piece of legislation in the fight against climate change. The bill included incentives to support and grow green energy projects, including clean transportation and “climate-smart” manufacturing.
“Given the existential threat posed by the climate crisis, we are deeply concerned about efforts like [la minería de prueba] that increase the demand for fossil fuels, with the potential to put new strains on our energy grid.
Whether in the debate over its environmental or economic impact, cryptocurrency continues to be in the crosshairs of many in government, both in the United States and abroad. In April, 23 US lawmakers sent a letter to the Environmental Protection Agency, urging administrator Michael Regan to assess cryptocurrency mining companies that might violate environmental statutes.
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