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US Officials Write to Crypto Mining Companies About Environmental Issues

This week, four crypto mining companies received letters from the House Committee on Energy and Commerce in an attempt to find out more...
Photo by Ana Lanza

This week, four crypto mining companies received letters from the House Committee on Energy and Commerce in an attempt to find out more about the environmental impacts of proof-of work operations.

The House Committee on Energy and Commerce wrote letters to Core Scientific, Marathon Digital Holdings, Riot Blockchain, Inc., and Stronghold Digital Mining.

Four crypto mining companies are being sought by the US House of Representatives in order to better understand the environmental impact of blockchain technology.

On Wednesday, the House Energy and Commerce Committee wrote to Core Scientific, Marathon Digital Holdings, Riot Blockchain, Inc., and Stronghold Digital Mining. The committee is currently studying the effects of proof of work on emissions and excess electronic waste.

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This move is being made by Washington regulators in response to the market crash this summer. Ethereum will also merge its proof of work blockchain with its proof of stake chain next month.

“While we recognize that blockchain technology holds great promise that could make personal information more secure, and our economy more efficient,” reads the letter from Stronghold Digital Mining.

Rep. Frank Pallone Jr. signed the letter along with Reps. Bobby Rush and Diana DeGette.

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The committee wanted information about how much energy each company’s mines used in 2021. It also asked what energy sources they used and the percentage of energy that was offset by renewable energy credits.

The committee also wanted to know how long companies have been reducing crypto mining in order to maintain grid stability over the past 12 months. They also requested information on the average cost per megawatt hour for each company and their profit per megawatt-hour.

Another group of policymakers urged the Department of Energy to require miners reporting information on energy use and emissions.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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