Crypto: White House to ban bitcoin (BTC) mining?

The relationship is strained between bitcoin and the White House. The latter indeed suggests the prohibition of Proof-of-Work used for bitcoin mining (BTC). The report discusses bitcoin’s energy consumption and its negative effects on the environment. But not only that, it also suggests possible executive action in the future.

The climate impact of bitcoin (BTC) mining

Bitcoin mining has a negative impact on the environment, according to the White House Office of Science and Technology report. He thus suggests the prohibition of Proof-of-Work.

In its report, the bureau discusses several negative sides of BTC mining. The use of electricity from digital assets contributes to greenhouse gas emissions. This also contributes to additional pollution and noise. Not to mention other local impacts, depending on local markets, policies and power sources.

On the first section of the report, we can see an introduction. But this section also alludes to the prohibition of Proof-of-Work, used for mining BTC. But that will be on the condition that regulatory action fails to influence US climate goals.

“If these measures prove ineffective in reducing the impacts, the administration should explore the actions of the executive. Congress could consider legislation. A set of laws to limit the use of energy-intensive consensus mechanisms for mining,” according to the report.

Bitcoin mining BTC
Excerpt from the report of the Office of Science and Technology of the White House, regarding the mining of Bitcoin (BTC)

Mining affects power grids

The paper also explores the effect of bitcoin mining on power grids.

The Bureau says the mining rig installations are creating additional strain on the power grid. This can cause damage such as power failures or fires. The report also claims that miners of this crypto will increase the average cost of electricity. This will affect local consumers.

Finally, the smallest and last section offers solutions. Indeed, she concludes that there are ways to make BTC mining consistent with US climate goals.

In the report, the office thus suggests the installation of equipment to use ventilated methane. Which is best suited to US climate goals. Note that the ventilated methane will be used to produce electricity for operations.

However, it should be kept in mind that many resources in this report are subject to debate. Some even criticize the bureau’s researchers for their extreme bias and misinformation about BTC mining.

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