As we reported earlier today US Congress discusses environmental impact of cryptocurrency mining. The meeting started at 18.30 CEST.
We will be watching whether a statement will be made after the meeting.
What Happened?
After the Chinese government’s ban on Bitcoin miners, the USA was the most preferred country for miners who migrated to crypto-friendly countries.
After the miner immigration to the USA, Bitcoin took the first place in hash rate. In addition, US institutions began to express their concerns about the environmental effects of Bitcoin mining.
In a press release issued by the US Congress, it was announced that it will hold a session today on the effects of cryptocurrencies on energy.
During his official announcement regarding the session, Frank Pallone, Chairman of the Energy and Commerce Committee, and Diana DeGette, Head of Oversight and Investigation, made the following statements;
“In just a few short years, the cryptocurrency has seen a meteoric rise in popularity. It is time to understand and address the drastic energy and environmental impacts this has on our communities and planet.
We look forward to examining the growing energy footprint of crypto mining and particularly how evidence of business blockchains can shift to cleaner alternatives and renewable energy solutions.”