Published: 22.04.2022
Article reading time:
2 minutes.
A group of congressmen have asked the US Environmental Protection Agency (EPA) to ban the mining of cryptocurrencies that use an environmentally harmful consensus algorithm.
Lawmakers led by Rep. Jared Huffman sent a letter to EPA Administrator Michael Regan. They are concerned that mining farms may be violating clean air and clean water laws by increasing greenhouse gas emissions into the atmosphere. As cryptocurrencies proliferate, it is important to properly assess the environmental risks associated with mining, the letter says.
Congressmen said they support US President Joe Biden’s executive order, which changed the federal government’s approach to cryptocurrencies. The approach is aimed at reducing the negative impact of mining on the climate and studying the energy consumption for mining cryptocurrencies. The authors of the letter mentioned the readiness of the New York Department of Environmental Protection (DEC) to revoke the license from the mining company Greenidge. The energy company Ameren also fell under the restrictions.
Huffman expressed dissatisfaction with the fact that now gas and coal power plants are increasingly being used for mining. Even if excess energy is used for mining, toxic and polluting substances can still be released into the air and water. Mining is poisoning nature and making it harder for the government to tackle the climate crisis, Huffman said. Of particular concern are cryptocurrencies using the Proof-of-Work (PoW) consensus method: BTC, ETH, XMR, and ZEC.
Legislators refer to the results of a study according to which electricity spent on one transaction with bitcoin can provide a whole family for a month. Whereas to confirm transactions using a less energy-intensive method of mining cryptocurrencies with the Proof-of-Stake (PoS) algorithm, 99.99% less energy is spent. In addition, the problem of disposal of computing equipment is added. The annual amount of e-waste generated by mining is almost 30,700 tons.
Huffman noted that the noise control legislation of the 70s gives the EPA the authority to investigate whether mining companies comply with environmental requirements. The authorities have already received numerous complaints from people living near mining farms, so the EPA should immediately address this issue, congressmen are sure.
The booming mining and cryptocurrency industry must be socially and environmentally responsible, US politicians conclude. Recall that last year, North American miners created the Bitcoin Mining Council group to promote sustainable ways to mine bitcoin.
Source: Bits
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