- According to President Biden’s executive orderThe White House Office of Science and Technology has submitted a report on the climate impacts of bitcoin mining.
- The report alludes to possible executive orders and legislation from Congress to “restrict” or “remove” evidence-of-work mining.
- Some of the sources cited have been criticized for being biased towards certain industries and spreading misinformation.
The White House Office of Science and Technology has released a report claims bitcoin mining negatively impacts the environment and hints at banning proof of work.
“The use of electricity from digital assets is contributing to [greenhouse gas emissions]additional pollution, noise and other local impacts, depending on local markets, policies and power sources,” reads the report.
The first part of the report serves as an introduction while also hinting at banning proof-of-work mining, used to mine bitcoin, if regulatory action does not impact climate goals. of the United States.
“If these measures prove ineffective in reducing the impact, the Administration should explore executive actions and Congress could consider legislation to limit or eliminate the use of consensus mechanisms. high energy intensity for crypto-asset mining,” according to the report.
Next, the document explores how mining can affect the grid.
The Office of Science and Technology asserts that bitcoin mining facilities place additional strain on the power grid, leading to power outages, fire risks and equipment damage. The report also claims that bitcoin miners will increase the average cost of electricity for local consumers.
“Depending on the energy intensity of the technology used, crypto assets could thwart broader efforts to achieve net zero carbon pollution, in line with commitments and goals.” climate of the United States”.
Finally, the final section concludes that there are ways bitcoin mining can actually benefit US climate goals, although this is a much smaller fraction.
“[Proof-of-work] Mining installations that use vented methane to generate electricity for operations are more likely to help rather than hinder U.S. climate goals,” according to the report.