State of emergency in the USA: what does it mean for the crypto field?

  • Elena Klimovich
  • 09:29 Jun 07, 2022
  • 940
State of emergency in the USA: what does it mean for the crypto field?

The president of the USA Joe Biden has declared a state of emergency due to a lack of power generation capacity. Obviously it means a lot of problems for miners and their activity.

According to the president’s declaration electricity has decisive importance and even episodic interruption there “could bring catastrophic consequences for the economy and national security”. The problems are caused by climate changes. There is a deficit of electricity in some regions but the demand is constantly increasing. For solving these problems enterprises have to plan new capacities.

Biden admitted that solar energy is becoming a popular source of energy and provides independence from burning fuel. Unfortunately now the US can’t import enough solar batteries for solving all climatic problems. That's why the launching of many projects is delayed.

As a result crypto miners who use PoW algorithms will face problems. In addition to lack of energy there are a lot of complaints from the people who live in the neighborhood about noise, rising temperature in water sources etc. If the situation continues the authorities might prohibit the activity of existing mining farms.

Share to:
Related news