The White House Office of Science and Technology Policy has expressed its concerns about sustainability and the country’s goals that have to do with combating climate change in the long run. The culprit, in this case, has proven to be none other than mining cryptocurrencies itself.
In its recent report, the office has stated that according to its most recent data, the mining operations across the country now consume an amount of energy comparable to public lightning, or all the house computers, for example.
The amount of greenhouse gas emissions of the United States produced by cryptocurrency mining represents between 0.2% and 0.3% of the overall global number, and roughly 0.4% to 0.8% of domestic emissions. Despite Bitcoin, for example, being on the right track to sustainable mining, an excessive amount of miners still uses fossil fuels to generate electricity for their operations.
The White House report states:
“Electricity usage from digital assets is contributing to GHG emissions, additional pollution, noise, and other local impacts, depending on markets, policies, and local electricity sources. Depending on the energy intensity of the technology used, crypto-assets could hinder broader efforts to achieve net-zero carbon pollution consistent with U.S. climate commitments and goals.”
The report has been compiled upon president Biden’s request in March, which ordered the office to gather the data on potential benefits and shortcomings of cryptocurrencies and blockchain. The emphasis on sustainability comes from the country’s pledge to lower its emissions by half by 2030 and go completely green by 2050.
