Dive Brief:
The U.S. government should take steps to ensure crypto mining operations do not reduce electric system reliability or drive up costs on the nation’s power grid, according to a report published Thursday by the White House Office of Science and Technology Policy, or OSTP. Those efforts would fall jointly to the U.S. Department of Energy, Federal Energy Regulatory Commission and the North American Electric Reliability Corp., and could include development of new reliability standards, OSTP said.
The United States hosts about a third of the world’s crypto-asset operations, and they consume about 0.9% to 1.7% of the country’s electricity, according to the report.
The report also recommends DOE develop energy efficiency standards for crypto mining equipment and collect additional data from crypto miners and electric utilities, including mining energy usage and fuel mix and participation rates in demand response programs.
Dive Insight:
Additional scrutiny and oversight may be...
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