Four members of the U.S. House of Representatives Energy and Commerce Committee said they were “deeply concerned” that proof-of-work mining could increase demand for fossil fuels.
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Four members of the U.S. House of Representatives Energy and Commerce Committee have asked four major crypto mining companies to provide answers on the potential environmental impact of their energy consumption.
In a Wednesday letter to Core Scientific, Marathon Digital Holdings, Riot Blockchain and Stronghold Digital Mining, U.S. lawmakers Frank Pallone, Bobby Rush, Diana DeGette and Paul Tonko demand these The company provides information for 2021, including its mining energy consumption facilities, the source of the energy, the percentage of renewable energy, and how often the company curtails operations. The four members of the House committee also asked about the average cost per megawatt-hour of companies mining cryptocurrencies at their respective facilities.
“Blockchain technology has enormous potential to make our personal information more secure and economically more efficient,” the lawmakers wrote to Riot CEO Jason Les said in a letter. “However, in some cases, the energy consumption and hardware required to support PoW-based cryptocurrencies may create serious externalities in the form of harmful emissions and excess e-waste.”
NEW: E&C leaders to crypto companies today A series of letters were sent asking for answers about what they were doing to reduce energy use and offset climate impacts. Read more here https://t.co/YDemVtZkVE
— Energy and Commerce Commission (@EnergyCommerce) August 17, 2022
U.S. President Joe Biden signed into law Tuesday the Reducing Inflation Act, considered by many experts to be the biggest piece of legislation to tackle climate change. The bill includes incentives to support and develop green energy projects, including clean transportation and “climate-smart” manufacturing.
“Given the existential threat posed by the climate crisis, we are Efforts to increase the demand for fossil fuels are deeply concerning, which has the potential to put new pressures on our energy grid.”
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whether discussing its impact on the environment or the economy Cryptocurrencies remain the focus of many governments in the U.S. and abroad. In April, 23 U.S. lawmakers sent a letter to the U.S. Environmental Protection Agency urging administrator Michael Regan to evaluate crypto mining companies that could violate environmental regulations.
