US Senators Question Bitcoin Mining Companies About Environmental Impact

US Senators Question Bitcoin Mining Companies About Environmental Impact. Former Massachusetts law professor and Democratic Senator Elizabeth Warren (D-MA) targeted cryptocurrency mining operations after criticizing digital currency markets during the reporting period.

In mid-September, Warren urged the chairman of the Securities and Exchange Commission (SEC) to oversee the growing cryptocurrency trade. She has also denounced and cited the environmental impact of cryptocurrency mining in the past.

Elizabeth Warren – US Senator

2 Warren wrote to Jeff Kirt, CEO of Bitcoin mining company Greenidge Generation Holdings in New York, asking for details on the company’s emissions.

“Due to the unusually high energy consumption and carbon emissions associated with Bitcoin mining, the mining operations at Greenidge and other facilities raise concerns about their impact on the global environment, local ecology and consumer electricity costs.”

they also tweet Bloomberg article and added:

“The mining of cryptocurrencies is a huge challenge for the environment and increases energy costs for consumers. Bitcoin alone consumes as much energy as Washington state. I urge the Bitcoin company (Greenidge) to provide information about its operations and its environmental impact. “

According to Bloomberg writer Josh Saul, this is “the first time Warren has interviewed a specific cryptocurrency mining company.” Warren added that lawmakers need to look more closely at these mining facilities.

“We need to better understand the amount of energy that facilities like Greenidge use, their emissions and their impact on US consumer electricity prices.

Greenidge has repeatedly stated that the company uses green solutions for Bitcoin mining. The Greenidge Generation power plant in Dresden, New York, uses “natural gas to generate electricity”. In addition, “the Greenidge generation runs on a new thermodynamic efficiency and achieves the lowest electricity production costs in history”.

Greenidge is operated by Atlas Holdings and the website states that the company buys carbon credits. Several other bitcoin mining companies are also using carbon credits and renewable energy solutions.

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