White House To Release a Study on Crypto Mining in August: Bloomberg

After President Biden’s crypto executive order, the White House Office of Science and Technology Policy (OSTP) plans to release a report on cryptocurrency mining and its environmental impact this summer. The OSTP is investigating a wide range of crypto mining issues, including claims that it could benefit power grids in states like Texas, noise pollution complaints, and the distinctions between proof-of-work and other network consensus processes. Costa Samaras, principal assistant director for OSTP’s energy division, told Bloomberg, “It’s important if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions,” According to Samaras, the team was looking into the economic incentives for miners to shut down during high power usage times when they could be making money by running machines nonstop. Biden’s executive order mandated that the OSTP collaborate with other agencies and provide a report within 180 days that looked into how blockchain technologies would affect the environment. House Democrats Issued an EPA Letter The White House Office of Science and Technology Policy (OSTP) invited the public to submit comments until May 9. A group of environmental groups, including Greenpeace and the Environmental Working Group, co-signed a letter warning of the potential “impacts of digital currency” and proposed measures to mitigate their impact on climate chan...