Senator Elizabeth Warren and several Democratic members of the US Congress have written to two government agencies concerning the impact of crypto mining on the nation because they are unhappy with the expansion of this activity.
The letter, which was written to the Department of Energy and the Environmental Protection Agency, was reportedly signed by Democratic House members and Senator Elizabeth Warren, a staunch opponent of the cryptocurrency sector.
According to the letter, seven of the biggest cryptocurrency mining companies in the US might consume more than 1 gigawatt of electricity, which is equal to the output of two typical coal plants, raising questions about the activities’ potential effects on the environment.
Additionally, the letter claimed that energy prices for homeowners and small businesses were rising as a result of cryptocurrency mining operations. It used the example of Plattsburgh, New York, where the city’s electrical costs had increased by up to $300.
The letter also highlighted a research that estimated that “the electricity demands of cryptocurrency mining operations in upstate New York drive annual utility prices for small businesses and people by nearly $165 million and $79 million, respectively.”
A few crypto mining companies were found to be utilizing a significant amount of electricity, which prompted US Congress members to write to these federal agencies.
In order to give information that politicians can use in the drafting of laws, the letter recommended that these federal agencies compel cryptocurrency mining companies to disclose data on their energy use and emissions.
