US legislators press Bitcoin Mining companies on energy consumption, CO2 emissions, climate crisis-MINING BITCOIN messages
US legislators press Bitcoin Mining companies on energy consumption, CO2 emissions, climate crisis-MINING BITCOIN messages
Eight US legislators, including Senator Elizabeth Warren, sent letters to leading US Bitcoin mining companies in which they ask them about their crypto mining operations. "The exceptionally high energy consumption and carbon emissions in connection with Bitcoin mining could undermine our hard work to cope with the climate crisis-not to mention the harmful effects of cryptomining on local environment and electricity prices," wrote Senator Warren.
US senators want answers from Top Bitcoin Mining Companies
Senator Elizabeth Warren (D-Mass.), Member of the Senate Committee for Banks, Housing and Urban Affairs, announced on Thursday that they and seven other senators sent letters to six crypto mining companies, "in which they express concerns about their extraordinarily high energy consumption."
In the announcement, it says: “Senator Warren and her colleagues asked every company to make information on electricity consumption, scaling plans, agreements with electricity companies and effects on energy costs for consumers and small companies by 10 February 2022.”
The Letters were sent to six crypto-mining companies: Riot Blockchain, Marathon Digital Holdings, Stronghold Digital MiningBitdeer, Bitfury Group and Bit Digital.
Senator Warren explained:
The exceptionally high energy consumption and carbon emissions in connection with Bitcoin mining could undermine our hard work to cope with the climate crisis-not to mention the harmful effects of cryptomining on local environment and electricity prices.
She claims that "the electricity consumption of Bitcoin mining has more than tripled from 2019 to 2021 and competes with the energy consumption of the state of Washington and entire countries such as Denmark, Chile and Argentina".
"We need more information about the activities of these crypto mining companies to understand the full extent of the consequences for our environment and local communities," emphasized the Senator from Massachusetts.
In December last year, Senator Warren sent a similar letter to Greenidge Generation Holdings, which operates one of the largest Bitcoin mining companies in the USA. She asked the company about its emissions and effects on local ecosystems and electricity prices.
an test report published this month by CoinShares, states that "the energy consumption is a controversial and often misunderstood Function of the Bitcoin currency system is ”. The report explains: "Carbon emissions that are expelled by electricity providers who supply the Bitcoin mining network are irrelevant" and leads:
at 0.08 % of global CO2E emissions would remove the entire mining network from global demand-and thus hundreds of millions of people of their only hope of a fair and accessible form of money-no more than one rounding error.
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