Cryptocurrencies
Bitcoin Mining’s Hearing in U.S. House Questions Power Usage
- Hearing comes as mining’s power use is increasingly questioned
- Rep. DeGette called out two mines as ‘deeply concerning’
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A U.S. House subcommittee hearing on “Cleaning Up Cryptocurrency” and the energy usage of blockchains kicked off Thursday with one representative calling the energy consumption of some Bitcoin mines “deeply concerning.”
The hearing comes as the outsized power consumption of cryptocurrency mining is increasingly questioned by politicians and climate advocates. Mining companies run thousands of computers to solve the calculations that underpin certain cryptocurrencies, especially Bitcoin and Ethereum.