News
Cryptocurrency Companies Must Now Report Their Energy Use to the Government
The Biden administration announced the new requirement last week, citing concerns over what the energy-intensive industry could mean for climate change and energy security.
By Kristoffer Tigue
The Biden administration is now requiring some cryptocurrency producers to report their energy use following rising concerns that the growing industry could pose a threat to the nation’s electricity grids and exacerbate climate change.
Related Knowledge Center: ENERGY BASICS: fossil fuels
State of Play
Fossil fuels — coal, oil and natural gas, primarily — remain the dominant energy sources for much of the world, with their accompanying infrastructure of mines, drilling and production wells, pipelines and various forms of transportation. But they have become more problematic as governments struggle to address climate change and pivot to energy sources that do not result in carbon dioxide emissions.