ICYMI: White House office report on crypto mining expected in August: Bloomberg
in states like Texas, complaints about noise pollution, and the differences between proof-of-work and other network consensus mechanisms. The report is expected in August, per Bloomberg's report.
“It’s important, if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions,” Costa Samaras, principal assistant director for OSTP's energy division, told Bloomberg Law. Samaras said that the team was studying what the economic incentives are for miners to shut down at peak power consumption times when they could be making money by running machines non-stop.
“We’ve seen miners set up in places where the electricity prices are low and they’ve secured favorable industrial rates,” Samaras told the publication. “I would like to go see the evidence that an afternoon peak mining tariff slows down mining operations.” Samara also mentioned looking into reports about noise, local pollution and old fossil power plants being reenergized in certain communities.Biden's comprehensive executive order tasked OSTP with teaming up with other offices and coming up with a report within 180 days essentially looking into how blockchain technologies could impact the environment.
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