Friends — Did you know that just one year of Bitcoin mining in the United States creates as much carbon emissions as 7.5 million gas-powered cars? In fact, Bitcoin crypto-asset mining companies in the United States are estimated to use as much electricity as we need to light up every home in the nation.
That’s an environmental catastrophe.
And that’s why last week, as Chair of the Senate subcommittee on Clean Air, Climate, and Nuclear Safety, I held the Senate’s first-ever hearing on the impacts of cryptocurrency on our environment.
While we’re working together as a country to face down an existential climate crisis that puts our people and our planet in jeopardy, crypto miners are draining massive energy from our electricity grids and emitting skyrocketing greenhouse gasses, just so they can make a buck for themselves. We can’t afford to let this industry run roughshod over our climate any longer.
I worked with Congressman Jared Huffman to introduce the Crypto-Asset Environmental Transparency Act because it’s time to get serious about the issue of energy and cryptomining. The bill would require larger cryptomining companies to disclose their emissions in order to operate and require the EPA to conduct a comprehensive investigation into all the environmental impacts of cryptomining—from the air we breathe, to the water we drink, to the noise pollution wrecking our communities.
Now, I know this is a little in the weeds, but I thought it was important to make sure that you see what you make possible by being a part of this movement. By organizing, and chipping in whatever you can to our campaign, it’s folks like you who power this progressive movement and ensure we spread the message from these important hearings and legislation.
If you want to help us continue to fight for climate action and a Green New Deal in Congress, now is a crucial time to make a contribution. We are coming up on our first FEC deadline of the year at the end of the month. All of our fundraising totals so far for 2023 will be made public for all to see, so we have to put up a strong showing.
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With your help we can crack down on the extreme energy impact of the crypto industry and continue to fight for a clean energy future.
The Markey Committee
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