The Biden administration has made a recent announcement that large cryptocurrency mining operations will now be required to report their electricity usage. This decision comes after concerns were raised about the potential threat these operations pose to the nation’s electricity grids and the environment.
The Energy Information Administration (EIA) has identified 137 commercial cryptocurrency miners in the US, accounting for 2.3% of the country’s energy usage. This amounts to 90 terawatt-hours per year, surpassing the energy consumption of entire countries like Finland, Belgium, and Chile. The global cryptocurrency mining industry used as much electricity in 2023 as Australia did in the same period, raising questions about the practical application of this energy-intensive process.
Data collection has already commenced, with the EIA aiming to gain insights into the industry’s increasing demands and the geographical distribution of these operations.
2024-02-07 13:28:31
Post from www.engadget.com