US launches investigation against PoW-based cryptocurrency miners

Amid the global crackdown on PoW cryptocurrency mining, the U.S. House of Representatives Committee on Energy and Commerce is examining the impact of four major mining companies on energy and climate.

As part of its oversight of the environmental and energy impact of blockchain, the agency sent letters to mining companies Core Scientific, Marathon Digital Holdings, Riot Blockchain, and Stronghold Digital Mining. The committee is interested in what actions the companies are taking to mitigate the environmental impact of mining and what steps are being taken to ensure that the companies' activities do not strain the energy system and undermine US climate goals.

«Blockchain has tremendous potential to make our personal information more secure and our economy more efficient. However, the energy consumption and hardware required to support PoW-based cryptocurrencies can in some cases lead to serious externalities in the form of harmful emissions,» the report said.