U.S. authorities are again concerned about miners' energy consumption

  • 13:30 Feb 28, 2023
U.S. authorities are again concerned about miners' energy consumption

Even though more and more mining companies are switching to renewable energy sources, the U.S. Congress does not stop trying to impose strict regulations and control on the industry. It applies to all processes in general, and electricity consumption in particular. 

Right now, authorities are expressing concern about the growth of energy consumption in the industry. Some states, such as Texas, have low rates, and affordable energy sources, and their conditions attract miners. However, this puts a lot of strain on the grid, which worries local authorities, the public, as well as politicians, and environmentalists. 

The Whitehouse 2022 report, describes President Joe Biden's office's approach to controlling the impact of cryptocurrency mining on the environment. The document also notes that different coins need different levels of power. Nevertheless, mining goes against the country's sustainability goals. 

According to calculations, the result of the work of miners is 0.3% of global greenhouse gases. In addition, the crypto industry uses the same amount of energy as all computers in the country. 

The Democratic Party is notable for its significant aversion to cryptocurrencies, and its representatives regularly advocate for the introduction of measures against mining. Increasing the transparency of mining processes has been proposed as one step in this direction. Senator Elizabeth Warren appealed to government agencies, urging them to require more reporting

For their part, industry representatives are trying to protect their operations from regulatory pressure, noting that most of the energy is renewable. BTC miners have also pointed to their ability to balance the grid by reducing voltage during peak loads and running on excess energy.

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