Bitcoin miners rebut claims made by US Democratic legislators to EPA administrator

It has been revealed that two US Democratic legislators sent a letter to the EPA administrator, Scott Pruitt in which they mentioned Bitcoin miners and coal power plants as an example of how their constituents were negatively impacted by climate change. It has since been rebutted with claims from several members of the cryptocurrency community including BitPay CIO Walli Wang who said there is no proof suggesting any correlation between Bitcoin mining and greenhouse gas emissions.

The “what is mining bitcoin mean” is a question that has been asked by US Democratic legislators to the EPA administrator. The miner rebuts claims made by the US democratic legislators in a letter to the EPA administrator.

Bitcoin miners rebut claims made by US Democratic legislators to EPA administrator

 

The Bitcoin Mining Council (BMC) has sent a letter to United States Environmental Protection Agency (EPA) Administrator Michael Regan in response to a letter issued by Democratic senators last month to correct misinformation regarding Bitcoin (BTC) mining and its environmental effect. 

The BMC letter, which has over 50 signers and was written by MicroStrategy CEO Michael Saylor, Castle Island Ventures partner Nic Carter, and Darin Feinstein of Core Scientific, outlines apparent misunderstandings in the material delivered to Regan. The writers said, among other things, that the original letter, which was signed by Democratic Representative Jared Huffman and 22 other members of Congress, “confuses datacenters with power producing facilities.”

Several members of Congress wrote to the EPA based on a number of misconceptions regarding #Bitcoin mining. To clarify up any misunderstandings, rectify mistakes, and educate the public, we’ve written a response. https://t.co/Ks6fh9Cg0Z

May 2, 2022 — Michael Saylor (@saylor)

The letter from the Democrats asks the EPA to verify that digital asset miners follow “foundational environmental regulations like the Clean Air Act or the Clean Water Act,” and goes on to raise other issues about cryptocurrency mining, including electrical waste and noise pollution. The BMC letter focuses on eight topics and responds in detail to each of them.

The initial letter’s claim that Bitcoin mining operations throughout the nation are “polluting communities” is incorrect, according to the industry association. Bitcoin mining operations, according to BMC, do not pollute the environment; rather, electricity producing facilities do. The inability to make such difference is mentioned many times. The writers also dispel what they consider to be plain lies, such as the claim that “a single Bitcoin transaction could power the typical US family for a month.”

However, in responding to the allegation that proof-of-stake (PoS) processing is less energy-intensive, BMC may have shown its own preconceptions. Following a series of concerns leveled about PoS, the industry organization issues the following statement: 

“Because Proof of Stake and Proof of Work are fundamentally different, referring to Proof of Stake as a more ‘efficient’ type of Proof of Work is incorrect, because it does not accomplish the same result.” 

Various miners participate in high-performance computing, which has many uses outside Bitcoin and digital assets, according to the letter. 

BMC is a trade group that is available to all Bitcoin miners. It began in May 2021, when Michael Saylor convened a gathering of North American Bitcoin miners. The organization now has 44 “advisory members.” It has also released a number of studies on the effect of Bitcoin mining and proof-of-work in general on the environment. Some of the conclusions reached in its reports have been questioned.

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Block Inc.’s Jack Dorsey, Fidelity Investments executive vice president Tom Jessop, Fordham Law School Professor Donna Redel, Grayscale Investments CEO Michael Sonnenshein, and SkyBridge Capital founder Anthony Scaramucci also signed the BMC letter.

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