Share this article
US Congress to Hold Oversight Hearing on Crypto Mining: Report
Lawmakers will look at mining’s effect on the environment.
Updated Apr 10, 2024, 1:59 a.m. Published Jan 6, 2022, 6:43 a.m.
The U.S. Congress is preparing an hearing to examine the environmental impact of crypto mining, especially on the Bitcoin network, according to a report from The Block.
- The date and witness list for the hearing are still undetermined, but it could take place as early as the end of January, The Block reported on Wednesday, citing sources familiar with the matter.
- The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is drawing up a list of witnesses. They will be questioned about the energy use of proof-of-work mining, the type of mining used for bitcoin, according to the report.
- In 2021, as bitcoin’s carbon footprint was taking up headlines, U.S. companies continued to pour millions of dollars into bitcoin mining infrastructure. Chinese miners fleeing a regulatory crackdown also made investments in the U.S., which is now the world’s largest bitcoin miner. Mining firms plan to continue expanding their capacity over the next year.
- In December, Sen. Elizabeth Warren (D-Mass.) sent a letter to New York-based miner Greenidge’s CEO, expressing concerns about the firm’s environmental impact. That was followed by a New York Times article that relayed concerns surrounding the increased mining in the state.
- These “recent events in New York state” have raised the alarm over crypto mining with the House Energy and Commerce Committee, a person involved in pre-hearing discussions with the Oversight and Investigations subcommittee told The Block.
STORY CONTINUES BELOW
Read more: Warren Targets Bitcoin Miner Greenidge’s Environmental Footprint
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
U.S. bipartisan lawmakers draw up tax bill with stablecoin and staking relief
New House proposal would exempt some stablecoin payments from capital gains taxes and allow stakers to defer income recognition for up to five years.
What to know:
- A bipartisan bill in the U.S. House aims to modernize tax rules for digital assets, addressing issues like excessive taxation and tax abuse.
- The PARITY Act proposes tax exemptions for stablecoins, deferral options for staking rewards, and aligns digital assets with traditional securities.
- The bill includes measures to prevent tax loss harvesting in crypto and offers tax benefits to foreign investors trading through U.S. brokers.
Top Stories
