White House To Reduce Bitcoin Energy Use: Report

  • The White House is drafting policy to address bitcoin mining as it seeks to lessen energy consumption and emissions.
  • In March 2022, President Biden signed an executive order in a “whole of government” approach to regulate the broader cryptocurrency market.
  • Per the executive order’s timeline, a report is expected to be released in August detailing climate impact and other governing concerns.

The Biden administration is crafting policy recommendations aimed at lessening the energy consumption and emissions footprint of Bitcoin and other proof-of-work (PoW) cryptocurrencies, according to a report from Bloomberg Law.

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