US Lawmakers prepare for hearing on cryptocurrency mining’s environmental impact

  • The US Congress is making ready for a hearing on the environmental impact of cryptocurrency mining. 
  • According to sources acquainted with the matter, the House Energy and Commerce Committee is drawing an inventory of witnesses for the hearing. 
  • The Committee plans to query witnesses about vitality use in proof-of-work mining and infrastructure. 
  • In 2021, Senator Elizabeth Warren despatched a letter to New York-based miners relating to the environmental impact of crypto mining. 

A US Congress sub-committee is making ready for a hearing on the environmental impact of crypto mining. Governments worldwide have taken quite a few measures to deal with the unfavourable impact of Bitcoin mining. 

US Congress plans hearing for crypto mining’s hostile impact 

The information of a US Congressional hearing on the problem broke amidst rising considerations in regards to the unfavourable impact of cryptocurrency mining on the surroundings. 

As of August 2021, the US accounted for over 35% of the worldwide Bitcoin hashrate primarily based on Cambridge Centre for Alternative Finance information. According to quite a few sources the US is the biggest single Bitcoin mining nation. 

The US Congress sub-committee is making ready a hearing to evaluate the impact of crypto and Bitcoin mining. According to sources near the matter, Congress is working on a witness listing. 

The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is on the point of query witnesses about vitality utilization in proof-of-work mining. 

US-based mining companies have continued increasing their operations, elevating considerations amongst regulators. Senator Elizabeth Warren not too long ago expressed her considerations in a letter addressed to a New York-based mining agency Greenidge. 

Over the previous three years, the nations which have banned Bitcoin and cryptocurrencies have doubled in quantity. Now 9 nations have imposed an entire ban, and several other others have carried out a partial ban. 

The considerations surrounding Bitcoin, its utilization and mining actions have affected governments worldwide.

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