US warns cryptomining must cut power use over carbon goals

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US warns cryptomining must cut power use over carbon goals
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US warns cryptominers must cut power use to avoid busting US carbon goals

Lost energy usage data aside, the report also concluded that Visa, MasterCard and American Express credit card transactions used less than 1 percent of the total energy that Bitcoin and Ethereum have consumed over the course of a year"despite [card issuers] processing many times the number of on-chain transactions."

To stave off further negative impacts of cryptocurrency mining, the OSTP said government agencies should develop environmental performance standards that are revisited annually, assess how digicash mining may impact the energy grid reliability and adequacy, and create a reporting standard for energy usage that miners are required to follow and encourage them to publicly report that data.

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