US Senator exposes hypocrisy over energy use in Bitcoin mining

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City AM

By Darren Parkin US Senator Cynthia Lummis called into question this week the federal government’s role in regulating energy use in crypto mining. Bitcoin operates on a proof-of-work (PoW) mining model, meaning that ‘miners’ run high-powered computers to simultaneously create new Bitcoin and validate transactions. For years there have been concerns raised by some politicians regarding reports that cryptocurrency facilities are polluting communities and are having an “outsized contribution” to greenhouse gas emissions. In a Senate hearing committee in response to the Crypto Asset Environmental …

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