Cryptocurrencies
Crypto Mining Is Threatening US Climate Efforts, White House Warns
- Asks federal agencies to work with states on setting standards
- Says White House or Congress may eventually need to step in
A worker inspects Bitcoin mining machines.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
The White House says the environmental impact of producing cryptocurrencies like Bitcoin could impede US efforts to combat climate change.
The conclusion thrusts the Biden administration into the center of an already raging debate over the carbon footprint of digital assets. Critics have been ringing alarm bells for months over the amount of electricity used in crypto mining operations.