Senator Elizabeth Warren of Massachusetts has urged bitcoin miners to give her more information regarding their energy consumption by February 10. She is known to have broadened her studies on the mining industry’s energy use and its environmental impact.
Warren sent letters to Riot Blockchain, Marathon Digital Holdings, Stronghold Digital Mining, Bitdeer, Bitfury Group, and Bit Digital, requesting information on their “very high energy consumption.”
Remember that this well-known senator from Massachusetts issued a similar letter to Greenidge last year. She highlighted her concern about bitcoin miners’ high energy usage in it.
Warren and her team requested that each cryptocurrency miner give details on their electricity consumption, intentions to scale up their operations, contracts with energy companies, and the impact of their operations on energy bills for consumers and small businesses in their latest letter. The deadline for companies to react is February 10.
The unusually high energy consumption and carbon emissions associated with bitcoin mining could undermine our hard work in tackling the climate crisis – not to mention the detrimental impact of cryptocurrency mining on the local environment and electricity prices. – Warren wrote in the letter.
The letter also answers questions from legislators worldwide about the energy usage of excavators that use the Proof-of-Work (PoW) algorithm.
Additionally, there was a recent congressional hearing in the United States to investigate the energy consumption associated with PoW.
Russia and the mining industry
Recently, Russian President Vladimir Putin startled him by admitting that he saw the mining market’s benefits. He added that the growth of the new digital asset class poses concerns to investors, primarily due to the extreme volatility of its exchange rates. On the other side, he expressed his love for cryptocurrency mining in glowing terms.
Read Also: Customers of Five Star Bank will be able to purchase bitcoins
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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