Several U.S. Democratic policymakers have written to the CEO of the Electrical Reliability Council of Texas (ERCOT) to inquire about cryptocurrency mining operations in the state. The letter, which comes from the office of senator Elizabeth Warren, states that lawmakers concerned about the so-called climate crisis and politicians are seeking information about cryptocurrency miners “using the use significant amounts of electricity”
Elizabeth Warren’s Office Sent Letter to ERCOT’s CEO on Cryptocurrency Mining and Its Impact on Climate Change
Several US officials sent a letter to Pablo Vegas, executive director of a Texas network called ERCOT. The joint letter is seeking information regarding cryptocurrency mining, and lawmakers said they are concerned about the impact of mining on climate change. The letter originated in the office of senator Elizabeth Warren (D-MA) and it included senators and members of Congress Edward Markey (D-MA), Rashida Tlaib (D-MI), Al Green ( D-TX), Jared Huffman (D-CA), Katie Porter (D-CA) and Sheldon Whitehouse (D-RI).
The lawmakers claimed that data from about seven different cryptocurrency mining facilities indicate that they operate on approximately 1,045 megawatts (MW) of electricity and that the capacity is, they say, enough to “power the a city of 830,000 inhabitants”. Out of all the entities that leverage electrical resources from ERCOT, the officials’ letter does not reveal why U.S. policymakers have chosen to mine cryptocurrency. The letter mentions climate change multiple times, as it appears to be the main reason behind the investigation by Democratic politicians.
With a data point of 1,045 megawatts (MW), ostensibly the amount used by seven companies, the lawmakers declared that “all of these energy uses lead to significant carbon emissions and adverse effects.” other adverse effects on air quality”. The letter does not use citations from legitimate studies, but rather cites mainstream media articles from publications such as chron.com to support the aforementioned claims about electricity consumption and adverse air quality. The lawmakers’ letter used other articles from news outlets such as Bloomberg, The Verge, CNBC and Techcrunch.
One study the letter used to cite was the climate report recently released by the White House. Officials say the rush of miners to ERCOT’s power sources will put extreme pressure on the Texas power grid and exacerbate the so-called climate crisis. “This is especially relevant to the fact that extreme weather events exacerbated by climate change have been driving electricity use and stressing Texas’ power system – from the recent heatwave. in July 2022 to the winter storm of February 2021,” the lawmaker’s letter detailed.
Officials’ letter does not mention any advantages and benefits of ESG Cryptocurrency mining can offer like demand response techniques and outbreak mitigation plans
While the lawmakers’ letter is filled with negativity and headlines from the mainstream media rather than studies, it doesn’t address the benefits that cryptocurrency mining brings to the network. grid and technology’s ability to cut carbon emissions. For example, during the July 2022 heatwave, bitcoin miners could leverage direct response (DR) techniques to help the Texas grid handle the load. The letter from Warren’s office does not mention the advantages of the DR system, but the second largest US energy corporation is working on bitcoin mining. apply to the DR . technique.
The letter does not mention the benefits that bitcoin mining can have on reducing carbon emissions as some learn believes that this technology is one of the most powerful ways to prevent greenhouse gas emissions. Research by ESG analyst Daniel Batten details that bitcoin mining could remove 5.32% of the world’s carbon emissions.
Officials’ letter doesn’t talk about digital flame mitigation (DFM) plans and how gas could be leveraged for mining BTC rather than to the atmosphere. For example, the company DFM Crusoe Energy Note this week that the company’s recently deployed capacity will reduce an estimated 800,000 tonnes of CO2-equivalent emissions per year, or the equivalent of removing 170,000 cars from the road.
What do you think of the recent letter from Senator Elizabeth Warren’s office to the ERCOT CEO? Let us know your thoughts on this topic in the comments section below.
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