The Biden administration’s new findings on bitcoin (BTC) mining’s environmental impact united industry advocates and critics: Both sides declared their views had support from the highest levels of the U.S. government.
On Thursday, the White House’s Office for Science and Technology Policy (OSTP) released a much-anticipated 45-page report on bitcoin (BTC) mining. It detailed the pros and cons of the industry’s impact on the environment and energy grids, calling for more research so that federal agencies can come up with standards to minimize harm.
If these measures prove inefficient, the report said, the administration and Congress should consider limiting or eliminating energy-intensive technologies like proof-of-work, the system that powers the Bitcoin blockchain and, for now, Ethereum.
Bitcoin mining in particular has faced criticism for its energy usage and carbon emissions, but the industry has argued that it can actually support the world’s transition to renewables.
Two sides...
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