Climate change vs crypto mining

As we regularly remind, the White House office covers the crypto industry very often and thoroughly, and it does not look like that will change in the near future. Most recently, we learned that the White House office expressed its concerns about sustainability and the country’s long-term climate change goals. As it turned out, these goals can be threatened precisely by the crypto industry, specifically by the mining of cryptocurrencies itself. According to the latest data, all mining operations consume a huge amount of energy, which is the equivalent of, for example, all the public lighting in the country.

The White House report states that “electricity consumption from digital assets contributes to greenhouse gas emissions, additional pollution, noise, and other local impacts”. At the same time, we had the opportunity to learn that, according to experts, the crypto industry could “impede broader efforts to achieve net zero emissions in line with U.S. climate commitments and goals” by 2030. The report was compiled at the request of President Biden in March, which directed the agency to gather data on the potential advantages and disadvantages of cryptocurrencies and blockchain.