• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Is a Bitcoin miner the same as an Amazon server and why does it matter?

May 5, 2022
in Regulations
Reading Time: 2 mins read
A A
0
Is a Bitcoin miner the same as an Amazon server and why does it matter?
0
SHARES
7
VIEWS
ShareShareShareShareShare

The Bitcoin Mining  Council, led by Michael Saylor, has hit back at a US Congress group that petitioned the Environmental Protection Agency to criticize proof of work mining. The council’s letter focuses, in part, on comparing Bitcoin mines to computer data centers.  They aim to highlight that the EPA has no jurisdiction to dictate what happens inside a data center.

Letters to the EPA

The congress members had asked the EPA to evaluate the “compliance with environmental statutes” of proof of work mining.  The group claimed,

“We have serious concerns regarding reports that cryptocurrency facilities across the country are polluting communities and are having an outsized contribution to greenhouse gas emissions. As cryptocurrency gains popularity, it is essential to understand the environmental risks and pollution associated with this industry,”

The Bitcoin Mining Council replied directly to the statement above, stating;

“The statement above unfortunately confuses datacenters with power generation facilities. Power generation facilities are not datacenters. Datacenters which contain “miners” are no different than datacenters owned and operated by Amazon, Apple, Google, Meta, and Microsoft.”

Miners vs power plants

The group’s logic attempts to separate the relationship between the mining hardware and the power used to operate them. Bitcoin ASIC miners are specialized computers designed to do one task exceptionally efficiently. A server at Amazon, Google, or Microsoft is also a computer designed to do a job to the highest standard. In their letter, the mining council stated no difference between the two. The EPA does not get involved with the nature of cloud computing servers and their software operations, so why would they evaluate the functions of a Bitcoin ASIC miner?

Further, the council highlighted that Bitcoin miners do not emit harmful emissions.

“Datacenters engaged in the industrial-scale mining of digital assets do not emit CO2 or any other pollutants.”

Renewable energy and EPA oversight

The council also cited the recent Bitcoin Mining Council report that indicated the use of renewable has risen to 58.4%. The eight-page response to the original request clarifies that there is a difference between energy generation and energy use. Should the EPA evaluate the use of energy? Currently, the EPA categorizes traditional mining regulations into air, asbestos, water, and waste. The overall energy usage does not come into question. Thus, it could be argued that if Bitcoin mining requires EPA oversight, then Google, Amazon, Microsoft, Meta, and gold miners should also be subject to further assessment.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

ShareTweetSendPinShare
Previous Post

SOLIS launches the first decentralized entertainment ecosystem

Next Post

‘Florida needs Disney,’ says Harvard professor

Related Posts

Singapore’s changed stance on crypto
Regulations

Singapore’s changed stance on crypto

June 25, 2022
7
Cardano founder steals the show at Congressional hearing on crypto regulation
Regulations

Cardano founder steals the show at Congressional hearing on crypto regulation

June 24, 2022
6
Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations
Regulations

Proposed Gillibrand-Lummis crypto Bill uploaded to GitHub for recommendations

June 24, 2022
5
Conservative MP Matt Hancock advocates for “attractive” tax and regulatory regimes in the U.K.
Regulations

Conservative MP Matt Hancock advocates for “attractive” tax and regulatory regimes in the U.K.

June 24, 2022
5
Max Keiser suggests corruption could be at play over SEC’s denial of spot Bitcoin ETF
Regulations

Max Keiser suggests corruption could be at play over SEC’s denial of spot Bitcoin ETF

June 24, 2022
6
Next Post
‘You cannot ride the fence’

'Florida needs Disney,' says Harvard professor

Recommended

Troika Media Group’s Subsidiary Converge Direct, LLC Reports Audited Financial Results for 2021 with Revenues of $294 Million and Operating Income of $21 Million Following its Acquisition in March 2022

Troika Media Group’s Subsidiary Converge Direct, LLC Reports Audited Financial Results for 2021 with Revenues of $294 Million and Operating Income of $21 Million Following its Acquisition in March 2022

June 6, 2022
6
Ethereum, Ripple, Cardano, Solana, and Tron

Ethereum, Ripple, Cardano, Solana, and Tron

June 16, 2022
3
BTC/USD Pressured Below 29301: Sally Ho’s Technical Analysis 13 June 2022 BTC

BTC/USD Pressured Below 29301: Sally Ho’s Technical Analysis 13 June 2022 BTC

June 13, 2022
7
IOVLabs Taps Rootstock To Bring Everyday DeFi To The First Billion Users

IOVLabs Taps Rootstock To Bring Everyday DeFi To The First Billion Users

June 7, 2022
4
Virginia Gov. Glenn Youngkin is flush with funds to fight the ‘silent thief’ of inflation: How he’s using it

Virginia Gov. Glenn Youngkin is flush with funds to fight the ‘silent thief’ of inflation: How he’s using it

June 24, 2022
5
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • These Are the Two Challenges for XRP Following 30% Recovery in 9 Days (Ripple Price Analysis)
  • Stocks pace towards worst start since 1970
  • U.S. families face ‘exponential increase’ in child care costs: Care.com CEO

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?