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White House office report on crypto mining expected in August: Bloomberg

Following President Biden’s crypto executive order in March, the White House Office of Science and Technology Policy (OSTP) is aiming to put out a report on cryptocurrency mining and its environmental impact this summer, according to Bloomberg. OSTP is digging into a wide variety of topics related to crypto mining, including claims that it could be beneficial to power grids in states like Texas, complaints about noise pollution, and the differences between proof-of-work and other network consensus mechanisms. The report …

IPCC cites cryptocurrency as carbon emissions factor in landmark report

A new report from the Intergovernmental Panel on Climate Change (IPCC) released Monday contained dire warnings about future climate risks. The report from the IPCC, an intergovernmental panel within the United Nations, was the third in a series of reports examining the state of climate change mitigation efforts. The panel said in a statement Mondy that “[w]ithout immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C is beyond reach.” Included in the more than 2,000-page report …

Greenidge permit renewal delayed as company debates with regulators

A final decision on the permit renewal for Greenidge’s upstate New York crypto mining facility has been pushed back to June 30. The New York State Department of Environmental Conservation announced on Thursday that it would start reviewing new greenhouse gas (GHG) emission mitigation measures proposed by Greenidge in a letter dated March 25. The agency had previously told Greenidge that additional steps were needed to meet the requirements set by New York’s Climate Leadership and Community Protection Act (CLCPA), …

New York’s revamped crypto mining moratorium is not a ban, but it is moving forward

New York lawmakers have advanced a proposed law that aims to rein in the state’s expanding crypto mining industry. The State Assembly’s Environmental Conservation Committee advanced a proposed moratorium on proof-of-work mining to the Ways and Means Committee on March 22.  The Block previewed the meeting earlier today.  The advancement to a second-tier committee is a big step for legislation in the state assembly. “It is finally moving in both houses. Before the issue was it moved in the Senate …

Congress announces hearing on crypto’s energy use and environmental impact

Congress is officially looking into the environmental impact of blockchain, especially proof-of-work networks like Bitcoin.  On January 13, the House Energy and Commerce Oversight Subcommittee publicized a hearing entitled “Cleaning up cryptocurrency: The energy impact of blockchains” for January 20, confirming The Block’s reporting from last week.  No witness list is yet available, and staffers for the subcommittee did not respond to The Block’s request for further details. The hearing follows on growing concern over the rise of the crypto …

Congress is preparing an oversight hearing on Bitcoin mining’s environmental impact: sources

A Congressional subcommittee is preparing a hearing to examine the environmental impact of cryptocurrencies, especially bitcoin mining, three sources with knowledge of the matter have told The Block. The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is apparently working on a roster of witnesses to account for the energy use of proof-of-work crypto validation, especially the Bitcoin network.  The timing and the witness list have yet to be determined, but the hearing could take place as …