Sunday December 04, 2022

Congress weighs cleaning up cryptocurrency mining in the US 

The “Sandow Switch”, once used by Alcoa’s coal power plant, now supplies electricity to the Whinstone US Bitcoin mine facility in Rockdale, Texas on October 9, 2021. Photo by MARK FELIX/AFP /AFP via Getty Images

As the US’s bitcoin mining boom continues, Congress members debated how to make cryptocurrency greener. One of the most important questions was whether renewables should be used to power the energy-hungry mining that is at the heart bitcoin’s blockchain or if other blockchains should be used instead.
The House Energy & Commerce Committee held an oversight hearing on “energy impacts of cryptocurrency” that included the debate. After China tightened its mining restrictions, the US became the epicenter of bitcoin mining. This was partly due to how much energy bitcoin uses. This could have huge implications for the already stretched US power grid, which is already struggling with…

Continue reading…

Back to Top
%d bloggers like this: