US lawmakers ask about EPA, DOE monitoring of crypto mining emissions, energy consumption
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U.S. legislators suspect cryptomining is “problematic” for energy use and emissions, while Paraguay is ready to give the crypto industry, including miners, incentives.
The six U.S. lawmakers, led by crypto cynic Elizabeth Warren, noted in their July 15 letter that crypto mining in the United States has been increasing since it was banned by China last year. The seven crypto mining companies that responded to the legislators’ request for information revealed a collective capacity of 1,045 MW of electricity, which is equivalent to all the residences in Houston, TX, the fourth-largest city in the country.
The energy use of crypto miners is driving up prices for other consumers, the letter claimed, citing government and academic studies and a press report. It dismissed the responding miners’ claims of energy efficiency, saying, “These and similar promises about clean energy use obscure a simple fact: Bitcoin miners are using huge quantities of electricity that could be used for other priority end uses that contribute to our electrification and climate goals.”
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