Crypto Mining consumes a lot of resources and electricity. It has harmful effects and basically an overload on using resources such as electricity. Congress members sent a letter reading the issue to the Bitcoin companies in the USA.
Democratic Lawmakers Are Concerned Regarding Wastage By Cryptocurrency Companies
Eight different members of congress were concerned by the issue and further wrote a letter to six companies that mine Bitcoin. The letter asks these companies to check and report the environmental impact of their operations while mining Bitcoins.
Congress People Signed The Letter For Global Health Hazards From Crypto Mining
The letter says, ” Due to the high energy usage and carbon emission with Bitcoin mining, such operations raise numerous concerns about the hazardous impact on the Global Environment.” Senator Elizabeth Warren, Representatives Katie Porter, Sheldon Whitehouse, and other important members also signed the letter.
Cryptocurrency Mining Companies Use Tremendous Electricity
According to a report, if Bitcoin were a country, it would be ranked the 27th nation in the list of countries that consume maximum electricity. There was an oversight hearing done by the House Energy & Commerce Committee the previous week where the lawmakers debated on the topic.
They debated over the concept of using renewable sources of energy for Bitcoin mining. They suggested numerous ways by which Global Environmental health could be restored. Mining Companies were also made aware of the carbon pollutants generated from fossil fuels which were ultimately used in electricity production.
The Letter Showed Impact On Numerous Cryptocurrency Mining Companies
Different miners in the US got aware of the situation by the events and the letter. Further, a company known as Stronghold Digital Mining bought a special Power Plant that uses coal waste to generate electricity. The company wrote on its website about their addition of the plant and how they are working to clean the environment by using waste to mine Bitcoin.
Renewable sources of electricity are being promoted, and the companies claim that with the advancement of technology when the batteries become efficient enough to store the extra electricity from Solar and Wind resources, no extra energy will get wasted.