Initial estimates say cryptocurrency mining could account for up to 2.3 percent of total annual US electricity use.
Whinstone CEO Chad Harris walks into a room with Bitcoin mining machines at the Whinstone US Bitcoin mining facility in Rockdale, Texas, on October 10, 2021., crypto miners flocked to the United States in search of cheap electricity and looser regulations. In a few short years, the U.S.’s share of global crypto mining operations grewThe impacts of this shift have not gone unnoticed.
“This is nonpartisan data that’s collected from the miners themselves that no one else has,” said Mandy DeRoche, deputy managing attorney in the clean energy program at the environmental law nonprofit Earthjustice. “Understanding this data is the first step to understanding what we can do next.”Cryptocurrencies like bitcoin bypass the need for financial institutions by adding data to a public ledger, or “blockchain,” to verify all transactions.
“Given the emerging and rapidly changing nature of this issue and because we cannot quantitatively assess the likelihood of public harm, we feel a sense of urgency to generate credible data that would provide insight into this unfolding issue,” EIA Administrator Joseph DeCarolis wrote in the letter. The White House approved the survey on January 26.
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