Share this article
Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
House Lawmakers Send Letters to 4 US Crypto Miners Asking for Details on Environmental Impact
Core Scientific, Riot Blockchain, Marathon Digital and Stronghold Digital received the letters from members of the Committee on Energy and Commerce.
Four publicly traded crypto miners received letters from the U.S. House members of the Committee on Energy and Commerce looking to learn more about the impact of their mining operations on the environment.
Core Scientific (CORZ), Riot Blockchain (RIOT) and Marathon Digital (MARA), three of the largest U.S. miners, as well as the smaller Stronghold Digital (SDIG), received the letters that were signed by committee Chair Frank Pallone, Jr. (D-N.J.), Bobby Rush (D-Ill.), Diana DeGette (D-Colo.) and Paul Tonko (D-N.Y.).
STORY CONTINUES BELOW
“Blockchain technology holds immense promise that may make our personal information more secure and economy more efficient,” the letter said. “However, the energy consumption and hardware required to support [Proof-of-Work]-based cryptocurrencies may, in some instances, produce severe externalities in the form of harmful emissions and excess electronic waste (e-waste).”
Read more: Bitcoin Miner Stronghold Digital Significantly Restructures Debt
The letters were sent at a time of heightened scrutiny by lawmakers of the environmental impact of crypto mining.
Most recently, in a letter sent to the U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE), six Democrats led by Rep. Jared Huffman (D-Calif.) and Sen. Elizabeth Warren (D-Mass.) called the amount of energy used by miners “disturbing” and requested that the two groups require more reporting on emissions and energy consumption from the crypto mining industry.
The latest letter acknowledges that some miners are mitigating their need for excess amounts of energy by investing in renewable sources of power. However, they argued that some of the largest crypto mining companies in the country are still primarily relying on the electrical grid for their power, which can increase peak demand and potentially incentivize new fossil fuel generators.
Read more: Bitcoin Miner Riot Takes $349M Goodwill Impairment Charge on Acquisitions
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk's disclosure threshold of $1,000.
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
