US lawmakers have introduced a bill that would require the Environmental Protection Agency to conduct a comprehensive study of the environmental impacts of the mining industry.

The agency must also report on greenhouse gas emissions from industry facilities with power consumption exceeding 5 MW. The bill was sponsored by Representative Jared Hoffman and Senator Edward Markey. They noted that the share of Bitcoin mining in total electricity consumption in the United States has already reached 1.4%. This volume is enough to illuminate all households in the country.

According to them, the industry produces as much greenhouse gas emissions as seven million gasoline-powered cars.

“Crypto mining facilities not only undermine our efforts to combat the climate crisis, but can also pollute nearby communities. Giving this industry impunity for causing such environmental harm is contrary to numerous federal policies, and we must understand the full harm this industry poses,” Hoffman said.

Senator Jeff Merkley emphasized that mining companies consume huge amounts of electricity, much of which is generated by burning fossil fuels. The activities of these enterprises lead to an increase in energy tariffs and the volume of electronic waste.
The authors of the bill believe that the negative impact of Bitcoin on the environment is associated with the use of the Proof-of-Work consensus algorithm. They cited the example of the Ethereum blockchain, which reduced electricity consumption by 99.9% after switching to Proof-of-Stake.
The bill was supported by public organizations Sierra Club, Earthjustice, Environmental Working Group (EWG) and Seneca Lake Guardian. The latter's vice president, Yvonne Taylor, said that the cryptomining industry is growing, “threatening all communities in the country.” She recalled that the organization achieved a moratorium on the mining of cryptocurrencies using fossil fuel energy in the state of New York.
“Earlier this year, we won our campaign to deny permission for the expansion of Greenidge Generation, a massive Bitcoin farm that is damaging Seneca Lake, our local economy and the climate,” she added.
Taylor believes “climate-killing” crypto mining needs to be addressed at the federal level. “The incentives built into digital assets like Bitcoin require more and more electricity, not less, at a time when we all need it more efficiently.” use. We are grateful to Senator Markey for making the climate and energy impacts of cryptocurrency mining a priority,” said EWG Vice President Scott Faber.