House Financial Services Committee Republican Leader Patrick McHenry (NC-10) and U.S.Senator Cynthia Lummis (R-WY), along with 12 of their colleagues, sent a letter to Environmental Protection Agency (EPA) Administrator Michael Regan urging him to fully study the potential environmental impacts of digital asset mining, including beneficial uses, before considering environmental regulation. This letter is a follow-up to one sent by a number of House members in April 2022 which misunderstood many of the realities and data relating to digital asset miners.
“As you know, a substantial portion of digital asset miners’ energy use is based on renewable sources. Additionally, many miners use other power sources, like natural gas, that may otherwise go unused. JAI Energy in Wyoming is an example of a company that is working with oil and gas producers to make a positive environmental impact through bitcoin mining. Bitcoin mining that utilizes flared gas is also reducing methane emissions in Texas, New Mexico, Colorado, West Virginia, Ohio, and North Dakota. This private sector-led breakthrough is an important tool to a lower emission future. Finally, digital asset mining can have a substantial stabilizing effect on energy grids. It maintains robust baseload levels, yet it can be switched off quickly in times of peak demand.”
Senator Lummis and Ranking Member McHenry are joined by Senators Bill Hagerty (R-TN), Kevin Cramer (R-ND), Steve Daines (R-MT), and Representatives Pete Sessions (R-TX), Bill Posey (R-FL), Bill Huizenga (R-MI), Tom Emmer (R-MN), Anthony Gonzalez (R-OH), William Timmons (R-SC), Andy Barr (R-KY), Bryan Steil (R-WI), and Ralph Norman (R-SC).
Read the full letter here.