According to a report from Fox Business’ Charles Gasparino, the White House has claimed that Bitcoin mining places significant strain on the power grid. Indeed, Gasparino reported White House concern over BTC mining following its surge in price that occurred early this week.
The perception has been consistent, as it follows the administration crypto mining tax that was proposed in May 2023. Then, the White House stated that its Digital Asset Mining Energy (DAME) excise tax would address the “economic and environmental cost” of crypto mining.
SCOOP: As the price of $BTC surges and demand outpaces supply, @WhiteHouse worried $BTC mining could put significant strain on the power grid; crypto officials tell @FoxBusiness fears are overblown but will be used to try and increase regulation on the industry. More now…
— Charles Gasparino (@CGasparino) February 27, 2024
https://watcher.guru/news/white-house-bitcoin-mining-significantly-strains-the-power-grid