In a letter to the top BTC mining companies in the United States, Senator Elizabeth Warren joins a group of eight other legislators from across the political spectrum. These legislators are interested in learning more about their cryptocurrency mining operations.
Indeed, energy consumption and carbon dioxide emissions are associated with BTC mining. As well as the negative consequences it has on local habitats and electricity pricing. According to the World Bank, these could jeopardize our efforts to combat climate change. These will also imperil the detrimental consequences it has on electricity pricing and the environment.
Top Bitcoin Mining Firms
A member of the Senate Banking, Housing, and Urban Affairs Committee, Elizabeth Warren (D-Mass.), said Thursday that she and seven other senators have sent letters to six crypto mining companies about their use of a lot of energy.
Senator Warren and her colleagues asked each company to explain how much electricity they use. She also asked how they plan to scale back. Warren is concerned about how that will affect energy costs for consumers and small businesses by February 10, 2022.
Riot Blockchain, Marathon Digital, Stronghold Digital Mining, Bitdeer, Bitfury Group, and Bit Digital are some of the crypto mining companies that got letters from the US government.
Senator Warren said that the huge amount of energy and carbon emissions caused by BTC mining could hurt our efforts to fight the climate crisis. The negative effects it has on local environments and electricity prices would rise as well.
She says that the amount of electricity used by BTC mining has more than tripled from 2019 to 2021. This is more than the amount of electricity used by Washington state, and even whole countries like Denmark, Chile, and Argentina.
He said that they need to know how these crypto mining companies work. Hence to fully understand how this will affect our environment and our local communities.
Warren sent a letter to Greenidge Generation Holdings in December of last year. Greenidge Generation Holdings runs one of the largest bitcoin mining operations in the U.S. A woman asked a company about their emissions, how they affect local ecosystems, and how much electricity they use.
BTC’s Mining on Energy Consumption
A report on the BTC mining industry by Coinshares this month says that the BTC monetary system uses a lot of energy. This is a controversial and misunderstood part of the system. The report says that carbon emissions from the electricity providers that power the BTC mining network is not very important.
Depriving millions of people of their only chance for a fair and accessible form of money would be a rounding mistake. At 0.08 percent of global CO2e emissions, that would be a very small amount of CO2.
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