White House examines the impact of cryptocurrency mining on the environment and climate in the U.S.

White House examines the impact of cryptocurrency mining on the environment and climate in the U.S.

The survey should reflect “the potential of digital assets to hinder or advance efforts to combat climate change”, as well as “opportunities to transition to clean and reliable electricity. The document says stakeholders can post comments on the environmental and climate impacts of mining by May 9.

Comments on ways to mitigate climate harm and reduce energy consumption for cryptocurrency mining would be especially welcome. OSTP is willing to consider the potential energy or climate benefits of cryptocurrency mining for U.S. policy.

Energy-intensive mining has become a hot topic of discussion in recent years. Lawmakers around the world have proposed banning Proof-of-Work (PoW) mining of cryptocurrencies, citing environmental concerns. However, industry supporters believe that data showing that PoW mining uses more energy than some industrialized countries is unreliable.

Recently, an environmental committee in New York State approved a bill to ban mining of cryptocurrencies on the PoW algorithm, including Bitcoin, for two years. At the same time, a committee of the European Parliament voted against restrictions on PoW mining in Europe.

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Written by Renat
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