A number of Democratic U.S. policymakers have written a letter to the CEO of the Electric Reliability Council of Texas (ERCOT) in order to inquire about the cryptocurrency mining operations in the state. The letter that stems from senator Elizabeth Warren’s office says that the lawmakers are concerned with the so-called climate crisis, and the politicians are seeking information on crypto miners “using substantial amounts of electricity”
A handful of U.S. bureaucrats have sent a letter to Pablo Vegas, the chief executive officer of the Texas grid called ERCOT. The joint letter is seeking information tied to crypto mining operations and the lawmakers say they are very concerned about the effects of mining on climate change. The letter stems from senator Elizabeth Warren’s (D-MA) office and it includes the senators and congress members Edward Markey (D-MA), Rashida Tlaib (D-MI), Al Green (D-TX), Jared Huffman (D-CA), Katie Porter (D-CA), and Sheldon Whitehouse (D-RI).
The lawmakers claim that data from roughly seven different crypto mining facilities indicate that they operate on roughly 1,045 megawatts (MW) of electricity and the capacity, they say, is enough to “power a city of 830,000 residences.” Out of all the entities leveraging electrical resources from ERCOT, the bureaucrats’ letter does not disclose why the U.S. policymakers have singled out cryptocurrency mining. The letter does mention climate change over and over again, as it seems to be the main reasoning behind the Democratic politicians’ inquiry.
With the 1,045 megawatts (MW) data point, ostensibly the amount used by the seven firms, the lawmakers claim that “all of this energy use is resulting in substantial amounts of carbon emissions and other adverse air quality impacts.” The letter does not use citations from legitimate studies, but rather it cites mainstream media articles from publications like chron.com in order to back up the aforementioned statements about electrical consumption and adverse air quality. The lawmakers’ letter uses other articles from news outlets like Bloomberg, The Verge, CNBC, and Techcrunch.
The one study that the letter does utilize for a citation is the recent climate report published by the White House. The bureaucrats believe that the miners flocking to ERCOT’s electrical resources will put extreme pressure on the Texas power grid and exacerbate the so-called climate crisis. “This is particularly concerning given that extreme weather events exacerbated by climate change have already been driving up electricity use and straining Texas’s power system – from the recent heat wave in July 2022 to the February 2021 winter storm,” the lawmaker’s letter details.
While the lawmakers’ letter is full of negatives and headlines from mainstream media rather than studies, it doesn’t mention the benefits crypto mining offers to the grid and the technology’s ability to curtail carbon emissions. For instance, during the July 2022 heat wave, bitcoin miners were able to leverage direct response (DR) techniques in order to help the Texas grid handle the load. The letter from Warren’s office doesn’t mention the advantage of DR systems, but the second-largest U.S. energy corporation is studying bitcoin mining applied to DR techniques.
The letter does not mention the benefits bitcoin mining may have toward reducing carbon emissions as some studies believe the technology is one of the most robust ways to stop greenhouse gas emissions. ESG analyst Daniel Batten’s study details that bitcoin mining could eliminate the world’s carbon emissions by 5.32%.
The bureaucrats’ letter doesn’t talk about digital flare mitigation (DFM) schemes and how flare gas can be leveraged to mine BTC rather than emitted into the atmosphere. For instance, the DFM company Crusoe Energy noted this week that the firm’s recently deployed capacity will reduce an estimated 800,000 metric tons of CO2-equivalent emissions per annum, or the equivalent of removing 170,000 cars from the road.
What do you think about the recent letter from senator Elizabeth Warren’s office sent to the ERCOT CEO? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
A number of Democratic U.S. policymakers have written a letter to the CEO of the Electric Reliability Council of Texas (ERCOT) in order to inquire about the cryptocurrency mining operations in the state. The letter that stems from senator Elizabeth Warren’s office says that the lawmakers are concerned with the so-called climate crisis, and the politicians are seeking information on crypto miners “using substantial amounts of electricity”
A handful of U.S. bureaucrats have sent a letter to Pablo Vegas, the chief executive officer of the Texas grid called ERCOT. The joint letter is seeking information tied to crypto mining operations and the lawmakers say they are very concerned about the effects of mining on climate change. The letter stems from senator Elizabeth Warren’s (D-MA) office and it includes the senators and congress members Edward Markey (D-MA), Rashida Tlaib (D-MI), Al Green (D-TX), Jared Huffman (D-CA), Katie Porter (D-CA), and Sheldon Whitehouse (D-RI).
The lawmakers claim that data from roughly seven different crypto mining facilities indicate that they operate on roughly 1,045 megawatts (MW) of electricity and the capacity, they say, is enough to “power a city of 830,000 residences.” Out of all the entities leveraging electrical resources from ERCOT, the bureaucrats’ letter does not disclose why the U.S. policymakers have singled out cryptocurrency mining. The letter does mention climate change over and over again, as it seems to be the main reasoning behind the Democratic politicians’ inquiry.
With the 1,045 megawatts (MW) data point, ostensibly the amount used by the seven firms, the lawmakers claim that “all of this energy use is resulting in substantial amounts of carbon emissions and other adverse air quality impacts.” The letter does not use citations from legitimate studies, but rather it cites mainstream media articles from publications like chron.com in order to back up the aforementioned statements about electrical consumption and adverse air quality. The lawmakers’ letter uses other articles from news outlets like Bloomberg, The Verge, CNBC, and Techcrunch.
The one study that the letter does utilize for a citation is the recent climate report published by the White House. The bureaucrats believe that the miners flocking to ERCOT’s electrical resources will put extreme pressure on the Texas power grid and exacerbate the so-called climate crisis. “This is particularly concerning given that extreme weather events exacerbated by climate change have already been driving up electricity use and straining Texas’s power system – from the recent heat wave in July 2022 to the February 2021 winter storm,” the lawmaker’s letter details.
While the lawmakers’ letter is full of negatives and headlines from mainstream media rather than studies, it doesn’t mention the benefits crypto mining offers to the grid and the technology’s ability to curtail carbon emissions. For instance, during the July 2022 heat wave, bitcoin miners were able to leverage direct response (DR) techniques in order to help the Texas grid handle the load. The letter from Warren’s office doesn’t mention the advantage of DR systems, but the second-largest U.S. energy corporation is studying bitcoin mining applied to DR techniques.
The letter does not mention the benefits bitcoin mining may have toward reducing carbon emissions as some studies believe the technology is one of the most robust ways to stop greenhouse gas emissions. ESG analyst Daniel Batten’s study details that bitcoin mining could eliminate the world’s carbon emissions by 5.32%.
The bureaucrats’ letter doesn’t talk about digital flare mitigation (DFM) schemes and how flare gas can be leveraged to mine BTC rather than emitted into the atmosphere. For instance, the DFM company Crusoe Energy noted this week that the firm’s recently deployed capacity will reduce an estimated 800,000 metric tons of CO2-equivalent emissions per annum, or the equivalent of removing 170,000 cars from the road.
What do you think about the recent letter from senator Elizabeth Warren’s office sent to the ERCOT CEO? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
Dominica is a sovereign island nation in the Caribbean Sea, known as the “Nature Island of the Caribbean” because of its outstanding natural beauty. Following the signing of a new agreement with TRON, the country is now set to embrace blockchain technology and provide a model for integrating small nations into the global economy of the future.
Following the passage of Virtual Asset Business legislation in May 2022, the Government of Dominica announced on Friday, October 7, 2022, that it had entered into an agreement with TRON.
According to the government’s announcement, this represents an invaluable step in Dominica’s effort to strengthen its economy by embracing digital innovation. Furthermore, TRON Protocol has been designated as its official national blockchain. The announcement describes TRON Protocol as one of the leading global blockchain platforms renowned for its efficient and cost-effective crypto settlement system.
To promote Dominica’s global fame for its natural heritage and tourism attractions, TRON has also obtained government approval to issue Dominica Coin (“DMC”), a blockchain-based fan token.
“Dominica is committed to developing a more diverse and inclusive economy by utilizing cutting-edge technology. As a result of the open and cost-effective nature of the TRON blockchain infrastructure, Small Island Developing States such as Dominica will be better integrated into the global economy in the future,” said Prime Minister Roosevelt Skerrit.
With the passage of the Virtual Asset Business legislation in May 2022, Dominica is making strides towards enhancing its economic growth. The agreement with TRON – the embrace of digital innovation and the adoption of blockchain technology, will be another step toward demonstrating the efficiency of the government. The Dominican government is renowned for its commitment to the development of the country. The country has always taken advantage of every opportunity to build a more robust infrastructure to ensure a more prosperous future for the generations to come. The introduction of digital technology will help drive the country towards further growth and prosperity.
All sovereign nations, including Dominica, will benefit from the embrace of digital innovation. As previously stated, the openness and cost-effectiveness of TRON’s blockchain infrastructure will play a crucial role in enhancing the integration of Small Island Developing States into the global economy. Providing Dominica with the ability to lead the way in digital innovation and set an example for others, the model and methodology can be used to replicate growth and prosperity in other countries through the use of TRON’s blockchain technology and the adoption of the latest innovations. Dominica will set a path for more nations to follow.
To learn more about the TRON network check the latest developments on TRONdao.org, Telegram, Discord, Reddit, GitHub, and Twitter.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales
Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.
Dominica is a sovereign island nation in the Caribbean Sea, known as the “Nature Island of the Caribbean” because of its outstanding natural beauty. Following the signing of a new agreement with TRON, the country is now set to embrace blockchain technology and provide a model for integrating small nations into the global economy of the future.
Following the passage of Virtual Asset Business legislation in May 2022, the Government of Dominica announced on Friday, October 7, 2022, that it had entered into an agreement with TRON.
According to the government’s announcement, this represents an invaluable step in Dominica’s effort to strengthen its economy by embracing digital innovation. Furthermore, TRON Protocol has been designated as its official national blockchain. The announcement describes TRON Protocol as one of the leading global blockchain platforms renowned for its efficient and cost-effective crypto settlement system.
To promote Dominica’s global fame for its natural heritage and tourism attractions, TRON has also obtained government approval to issue Dominica Coin (“DMC”), a blockchain-based fan token.
“Dominica is committed to developing a more diverse and inclusive economy by utilizing cutting-edge technology. As a result of the open and cost-effective nature of the TRON blockchain infrastructure, Small Island Developing States such as Dominica will be better integrated into the global economy in the future,” said Prime Minister Roosevelt Skerrit.
With the passage of the Virtual Asset Business legislation in May 2022, Dominica is making strides towards enhancing its economic growth. The agreement with TRON – the embrace of digital innovation and the adoption of blockchain technology, will be another step toward demonstrating the efficiency of the government. The Dominican government is renowned for its commitment to the development of the country. The country has always taken advantage of every opportunity to build a more robust infrastructure to ensure a more prosperous future for the generations to come. The introduction of digital technology will help drive the country towards further growth and prosperity.
All sovereign nations, including Dominica, will benefit from the embrace of digital innovation. As previously stated, the openness and cost-effectiveness of TRON’s blockchain infrastructure will play a crucial role in enhancing the integration of Small Island Developing States into the global economy. Providing Dominica with the ability to lead the way in digital innovation and set an example for others, the model and methodology can be used to replicate growth and prosperity in other countries through the use of TRON’s blockchain technology and the adoption of the latest innovations. Dominica will set a path for more nations to follow.
To learn more about the TRON network check the latest developments on TRONdao.org, Telegram, Discord, Reddit, GitHub, and Twitter.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
PRESS RELEASE. Primex Finance, the first-ever cross-chain prime brokerage protocol, launches the Primex Beta on the Ethereum Goerli testnet. The Beta version allows users to experiment with the protocol’s cross-DEX spot margin trading. With the Beta launch, Primex also introduces the new Referral Program for early users, offering benefits to early registrants and referral-based rewards.
DeFi holds the potential to financially empower investors and traders in ways that were previously unimaginable in the traditional financial world. Despite that, most of the existing DEXs with margin trading features still use centralized trade execution mechanisms and feature a limited number of assets available for margin trading as derivatives.
Primex decentralizes the trade-execution mechanism to enable a wider variety of actions on DEXs. Instead of centralized order books, all automated trade executions on Primex are carried out by a network of Keepers. Consequently, decentralization can be maintained throughout the entire trading process, from creating an order to closing the position.
The Beta version of Primex’s protocol introduces key features, such as:
In addition to the new mechanisms introduced with Primex Beta, the Referral Program offers rewards in exchange for inviting new users to the platform. Connections and referral contributions are automatically tracked utilizing smart contracts to store the data transparently on-chain. Furthermore, the Early User Program grants participation in private challenges for a chance to earn exclusive prizes and access to the Primex private Discord channels. Ultimately, early users can also participate in the Ambassador Program to earn exclusive ambassador-only rewards.
“We are right on track to fulfilling our mission of defragmenting the DeFi markets via the new prime brokerage protocol that offers users open access to a truly decentralized spot margin trading experience across numerous DEXs and blockchains,” says Vlad Kostanda, Co-Founder and CEO of Primex. ”This new upgrade will enhance how the protocol works while bringing our team one step closer to Primex’s mainnet launch.”
About Primex Finance
Ukrainian-led Primex Finance is the cross-chain prime brokerage liquidity protocol for cross-DEX margin trading with trader scoring mechanisms. Lenders will have the flexibility to manage their risks and return by providing liquidity to a variety of risk buckets, subsets of liquidity pools that regulate trader risk strategies. For more information visit https://primex.finance/, or visit the Primex blog.
Contact
CMO
Anton Demenko
PrimexLabs OÜ
info@primex.finance
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
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SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale
Grayscale Investments' CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is 'a Matter of When and Not ... read more.
Source From : News