Biden looks to lower crypto's energy and emissions footprint

The White House has launched a study of the bitcoin (BTC-USD) mining industry, with emphasis on its impact to energy demand and greenhouse gas emissions. Bitcoin mining has become big business, it consumes a lot of electricity and warrants examination by policy makers and energy investors (XLE) alike. Not only have companies like Exxon (XOM) and Conoco (COP) began operating bitcoin mines, the broader crypto mining industry may be shifting the balance in domestic electricity markets, and contributing to record natural gas (UNG), coal (XAL1:COM) and oil (USO) prices. Any potential hobbyist who's explored the bitcoin mining business has likely discovered a few quirks in the model. The prospective hobbyist need only order a "miner" (specialized computer the size of a large toaster) for a few thousand dollars, plug it in, connect to the internet, and install a handful of applications. Thereafter, the miner begins the process of consuming electricity to create a