BTC

$98319.718

2.15%

ETH

$3301.498

1.23%

BNB

$621.277

1.48%

XRP

$1.443

30.78%

Market

The United States Congress will evaluate the environmental impact of bitcoin mining.

January 6, 2022 - Around 2 mins mins to read

The U.S. Congress is planning a hearing to look at the effect on the environment of crypto mining, particularly on the bitcoin network.

  • The United States Congress will evaluate the environmental impact of bitcoin mining.
    US Congress Source: Shutterstock/orhan cam

The date and witness list for the Congress hearing are still unannounced. Still, it might take place as early as the end of January, which cited people acquainted with the subject on Wednesday.

The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is presently compiling a listing of witnesses. They would be questioned about the energy consumption of proof-of-work mining, the form of mining utilized for bitcoin.

In 2021, when the carbon impact of bitcoin was making news, U.S. corporations continued to invest millions in bitcoin mining facilities. Chinese miners escaping a governmental crackdown also invested in the United States, which is now the world’s largest bitcoin miner. Mining companies intend to increase their capacity during the following year.

  • The United States Congress will evaluate the environmental impact of bitcoin mining.
    Source:  Andrey Rudakov/Bloomberg

Senator Elizabeth Warren wrote to the CEO of New York-based miner Greenidge in December, expressing her worries about the company’s environmental effect. This was followed by a New York Times article that expressed concerns about the state’s growing mining.

According to a person participating in pre-hearing conversations with the Oversight and Investigations subcommittee, “recent events in New York State” have raised concerns about crypto mining with the House Energy and Commerce Committee.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News

Market

The United States Congress will evaluate the environmental impact of bitcoin mining.

The U.S. Congress is planning a hearing to look at the effect on the environment of crypto mining, particularly on the bitcoin network.

  • The United States Congress will evaluate the environmental impact of bitcoin mining.
    US Congress Source: Shutterstock/orhan cam

The date and witness list for the Congress hearing are still unannounced. Still, it might take place as early as the end of January, which cited people acquainted with the subject on Wednesday.

The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is presently compiling a listing of witnesses. They would be questioned about the energy consumption of proof-of-work mining, the form of mining utilized for bitcoin.

In 2021, when the carbon impact of bitcoin was making news, U.S. corporations continued to invest millions in bitcoin mining facilities. Chinese miners escaping a governmental crackdown also invested in the United States, which is now the world’s largest bitcoin miner. Mining companies intend to increase their capacity during the following year.

  • The United States Congress will evaluate the environmental impact of bitcoin mining.
    Source:  Andrey Rudakov/Bloomberg

Senator Elizabeth Warren wrote to the CEO of New York-based miner Greenidge in December, expressing her worries about the company’s environmental effect. This was followed by a New York Times article that expressed concerns about the state’s growing mining.

According to a person participating in pre-hearing conversations with the Oversight and Investigations subcommittee, “recent events in New York State” have raised concerns about crypto mining with the House Energy and Commerce Committee.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News

Leave a Reply