US senators have submitted a bill that will direct the Environmental Protection Agency (EPA) to scrutinize Bitcoin’s energy use.
Representative Jared Huffman, along with Senators Ed Markey and Jeff Merkley, demands that the environmental impact of Bitcoin be investigated.
US Senators Present Bill
Noting that crypto mining threatens the nation’s energy goals and local power grids, the politicians said the Crypto Asset Environmental Transparency Act would prompt the EPA to produce a report examining the impact on greenhouse gas emissions from miners using more than 5 megawatts of power.
Markey said mining companies “put their profits ahead of the promise of our clean energy future, undermining decades of progress in our fight against climate change.”
The following statements were included in the published statement:
“Ensuring crypto mining companies report their greenhouse gas emissions and holding them accountable is a necessary step to protect communities across the country that rely on the grid to heat their homes, cook their meals and sustain their daily lives.”
Additionally, Markey said utilities may have to raise prices for other consumers.
The bill included the following:
“Crypto-asset mining operations are often designed to increase computing requirements over time, which can lead to increased energy consumption.
As a crypto-asset network, Bitcoin consumes more energy annually than countries like Chile or Bangladesh.”
