Climate change could hinder U.S. ability to battle crypto mining

Climate change could hinder U.S. ability to battle crypto mining, White House says

– The White House Office of Science and Technology Policy has warned that cryptocurrency mining operations could hinder the country’s ability to mitigate climate change.
– It also said federal agencies should consider information from crypto miners and local utilities “in a privacy-preserving manner” to help understand and mitigate the problem.
– Crypto operations in the U.S. now consume as much energy as all home computers or all residential lighting, the White House said in a report.
– The process of cryptocurrency mining involves running banks of computers to solve complicated math equations in order to create new coins and validate transactions.
– U.S. crypto production represents between 0.2% and 0.3% of global greenhouse gas emissions and between 0.4% and 0.8% of domestic emissions, respectively, though the estimates are uncertain, the report said.
– Mining crypto produces planet-warming emissions primarily by burning coal, natural gas and other fossil fuels to generate electricity.
– This year, crypto mining produced between 110 and 170 million metric tons on carbon pollution across the world and roughly 25 to 50 million metric tons in the U.S. alone, the report said.

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