“The increase in energy consumption attributable to the growth of digital asset mining has negative environmental effects and can have environmental justice implications as well as increase energy prices for those that share an electricity grid with digital asset miners,” according to the document. “Digital asset mining also creates uncertainty and risks to local utilities and communities, as mining activity is highly variable and highly mobile. An excise tax on electricity usage by digital asset miners could reduce mining activity along with its associated environmental impacts and other harms,” the document added.
Related posts
-
El Salvador Launches Treasury Holdings Site, Confirms Daily Bitcoin Purchases
The Bitcoin Office of El Salvador (ONBTC) has launched a site that allows anyone to confirm... -
The Crypto Industry’s Influence on U.S. Elections is Bigger Than Ever, Industry Insiders Say
“It’s a much more sophisticated operation,” Smith said. “I feel like I used to walk around... -
This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024
As the Bitcoin price continues to fluctuate wildly, the question in every investor’s mouth right now...