Yesterday the US Senate held a hearing onEnvironmental impact of cryptocurrency miningwith special attention to Bitcoins. senator Ed Markey Massachusetts presides over a session of the Environment and Public Works Committee, focusing on energy use by companies it does business with Crypto mining.
According to Marky, the mining industry “deserves attention“Because in the last two years it has grown exponentially in the United States, has become very energy intensive and, according to it, has caused damage to the environment and public health.
The senator is the promoter of a bill that would provide for greater transparency by miners regarding their environmental impact. Its goal is to learn the full extent of mining’s negative impacts, which is why its bill requires companies to disclose more information about their operations to the environmental regulator.
“We need a federal approach just to get information about climate changehe said in a concluding statement.
When one year of bitcoin mining in the US produces carbon emissions equivalent to 7.5 million gas-powered cars – we have a problem. Today’s session made that clearer. The cryptocurrency industry is growing, and so is the struggle for climate justice. We will hold these companies accountable. pic.twitter.com/EA2vPrjcTy
– Ed Markey (@SenMarkey) March 7, 2023
However, Sen. Pete Ricketts of Nebraska has argued that mining is not the only industry that relies on large databases, and that Washington should not decide the “winners and losers” among the various energy-hungry players. His home state, Nebraska, has benefited from economic growth specifically from the crypto mining industry thanks to lower electricity costs.
In addition, the process was discussed during the hearing Proof of workwith several attendees mentioning the decrease in power usage gained from Ethereum’s transition to proof of stake.
Democratic Congresswoman Anna Kelis of New York State, who introduced a two-year moratorium on new bitcoin miners in her state, also spoke out about the environmental damage from mining, such as air pollution, electricity consumption and noise, and called for consideration of less energy-intensive methods of asset production. .
Testimony from Nebraska PED Vice President for Customer Service and External Affairs Courtney Dentlinger emphasized the positive impact of mining on the local electric power industry, noting that customers who have a constant demand for electricity, such as miners who work 24/7 They have historically made more efficient use of electrical infrastructure.
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Joseph VitaglianoBTCSentinel.com March 8, 2023
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