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

The Bitcoin Mining Council (BMC) responded to a letter despatched to the US Environmental Safety Company (EPA) administrator Michael Regan by Democratic legislators final month with a letter of its personal in search of to rectify inaccuracies about Bitcoin (BTC) mining and its environmental affect. 

Penned by MicroStrategy CEO Michael Saylor, Fort Island Ventures accomplice Nic Carter and Darin Feinstein of Core Scientific, the BMC letter, which has over 50 signers, highlights alleged misconceptions within the doc despatched to Regan. Specifically, the authors mentioned that the unique letter, which was signed by Democratic Consultant Jared Huffman and 22 members of Congress, “confuses datacenters with energy era amenities,” amongst different inaccuracies.

The Democrats’ letter urges the EPA to make sure that digital asset miners adjust to the “foundational environmental statutes just like the Clear Air Act or the Clear Water Act” and goes on to air a number of issues associated to cryptocurrency mining, reminiscent of digital waste and noise air pollution. The BMC letter seizes on eight factors and rebuts them at size.

Based on the business group, the unique letter’s assertion that Bitcoin mining amenities throughout the nation are “polluting communities” is inaccurate. Based on BMC, Bitcoin mining amenities produce no air pollution, relatively energy producing amenities do. The failure to make that distinction comes up greater than as soon as. The authors additionally debunk what they see as outright misinformation, reminiscent of “A single Bitcoin transaction might energy the typical U.S. family for a month.”

Nonetheless, BMC might have revealed its personal prejudices in its response to the declare that proof-of-stake (PoS) processing is much less energy-intensive. After holding PoS to a number of criticisms, the business group states the next: 

“On condition that proof-of-stake and proof-of-work are qualitatively totally different, it’s deceptive to consult with proof-of-stake as a extra “environment friendly” type of proof-ofwork, because it doesn’t obtain the identical factor.” 

The letter additionally factors out that many miners have interaction in high-performance computing, which has many useful purposes past Bitcoin and digital property. 

BMC is an business affiliation open to all Bitcoin miners. It originated from a gathering of North American Bitcoin miners initiated by Michael Saylor in Could 2021. At the moment, the group has 44 “advisory members.” It has additionally printed a number of experiences on the environmental affect of Bitcoin mining and proof-of-work extra typically. A few of the findings in its experiences have been disputed.

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The BMC letter was signed by among the crypto business’s most distinguished names and supporters, together with Block Inc.’s Jack Dorsey, Constancy Investments senior vice chairman Tom Jessop, Fordham Regulation Faculty professor Donna Redel, Grayscale Investments CEO Michael Sonnenshein and SkyBridge Capital founder Anthony Scaramucci.