A group of Democratic lawmakers led by U.S. Senator Elizabeth Warren is demanding details from six of the world’s biggest Bitcoin miners about their electricity consumption and greenhouse-gas emissions, a warning shot that comes amid growing concern over the cryptocurrency industry’s environmental impact.
The eight lawmakers sent letters Thursday asking miners including Marathon Digital Holdings Inc. and Riot Blockchain Inc., to provide their facilities’ annual electricity consumption, growth plans and impact on local power prices.
Cryptocurrencies have come under increasing fire for the industry’s power consumption, which is now comparable to the entire country of Argentina. The letters raise the stakes in Warren’s campaign to crack down on wasteful Bitcoin operations after she sent a similar request last month to Greenidge Generation Holdings Inc., which powers its upstate New York facility with a natural gas plant. They also come as the industry reels from Bitcoin’s about-50% slump.
“Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations raise concerns about their impacts on the global environment, local ecosystems, and consumer electricity costs,” wrote Warren and seven other U.S. lawmakers including Representative Katie Porter and Senator Sheldon Whitehouse.
The letters also went to Stronghold Digital Mining Inc., Bitfury Group Ltd., Bitdeer Technologies Holding Co. and Bit Digital Inc. The miners have operations across the U.S. and in countries including Norway, Russia, Japan and Kazakhstan. The companies didn’t respond to inquiries.
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January 28, 2022 at 03:18AM
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Top Bitcoin Miners Pressed by U.S. Lawmakers to Detail Climate Impact, Power Consumption - Bloomberg
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