House of Representatives lawmakers have sent letters to four cryptocurrency mining companies seeking to learn more about the environmental impact of proof-of-work mining.
On Wednesday, the House Energy and Commerce Committee sent letters to Core Scientific, Marathon Digital Holdings, Riot Blockchain, Inc., and Stronghold Digital Mining. The committee is looking into the impact of proof of work and how it relates to emissions and “excess e-waste”.
The move comes as regulators in Washington are taking a closer look at crypto amid the market crash this summer. Additionally, Ethereum is expected to merge its Proof-of-Work blockchain with its Proof-of-Stake chain next month.
“While we understand that blockchain technology has tremendous promise that can make our personal information more secure and the economy more efficient, the energy consumption and hardware required to support PoW-based cryptocurrencies can in some cases create serious externalities in the form of harmful emissions and excess electronic waste (e-waste),” the Stronghold Digital Mining committee said in a letter.
The letter was signed by Rep. Frank Pallone Jr., chairman of the committee, as well as Representatives Bobby Rush, Diana DeGette, and Paul Tonko.
The committee asked for information on how much energy each company’s mining operations used in 2021, what energy sources they use, and how much of it is offset by renewable credits.
The lawmakers also asked how many days companies have reduced cryptocurrency mining to maintain network stability over the past 12 months, as well as the average cost per megawatt-hour and profit per megawatt-hour at each site.
Another group of politicians last month called on the Department of Energy and the Environmental Protection Agency to require miners to provide information on emissions and energy consumption.