U.S. crypto miners would be forced to disclose greenhouse gas emissions under a new bill, adding pressure to a fast-growing industry criticized for its heavy toll on the environment and power grid, Bloomberg News reported. The legislation, introduced by Sen. Edward Markey (D-Mass.), would require crypto miners using more than 5 megawatts of electricity — a threshold that most Bitcoin mining companies would pass — to report emissions and the source of power, according to a copy of the bill shared with Bloomberg News. The U.S. Environmental Protection Agency would conduct a study on the impact of existing and planned digital mining operations — including the level of stress on the energy grid and fossil fuel usage — and offer any measures state regulators can take to reduce their energy demand. Mining digital currency is energy-intensive, with companies including Riot Blockchain Inc. and Argo Blockchain often running thousands of specialized computers around the clock, solving equations that award crypto assets. About 60% of global currency mining is fueled by coal and natural gas, as opposed to renewable energy sources, according to data from Cambridge University’s Centre for Alternative Finance. U.S. mining operations produce the equivalent greenhouse gas emissions of 7 million cars on the road for a year, according to a statement from Markey.
