US Congress Comes After Cryptocurrency Miners…Again

  • Alex Dovbnya
    📰 News

    Mining become the matter of pressing concern due to its high level of energy consumption. Officials also discussed how to use blockchain to reduce electricity usage


US Congress Comes After Cryptocurrency Miners…Again

During a recent Senate hearing, cryptocurrency mining turned out to be a matter of pressing concern due to its high level of energy consumption. The government officials also discussed how Blockchain could be utilized to reduce electricity usage.  

US Representative Thomas Golden claims that miners only use 0.1 percent of world’s electricity. While Bitcoin’s need for electricity doesn’t seem to be that great (taking into account the scope of the industry), Goldman points to the fact that mining is usually concentrated in regions with inexpensive electricity. Consequently, it leads to a backlash from local electric utilities that struggle with delivering this type of electricity load.

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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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