In Missoula County, USA, in the state of Montana, new regulations regarding the extraction of cryptocurrencies were adopted – local media reported. They are interesting because they force companies to use RES in the issue of digging digital currencies.
According to reports, the Missoula County Commissioners voted unanimously to introduce new operating rules for local cryptocurrency mines. The project aims to “protect public health, morality and the general wellbeing of the region’s inhabitants”.
The new law
The new law focuses on the possible effects of crypto-mining in the context of global warming and the problem of electronic waste.
Now miners will have to provide a certificate that all electronic waste will be processed by recycling companies that have licenses for it.
Another new principle established in the county requires from the krypto-miners to use in the process of digging only with … renewable energy. The project has determined that the new digging rules will apply from April 4, 2019 to April 3, 2020.
Where does the assumption that digging cryptocurrencies should only take place using RES? The Hyperblock mining company currently consumes as much electricity as one-third of all homes in the county and plans to triple its electricity consumption, officials say.
County commissioner Dave Strohmaier commented: “Cryptocurrencies use more energy exponentially; it is a grotesque amount of electricity and we must take steps to remedy this. […] We must use new renewable energy sources if we are going to deal with climate change. “In turn, Hyperblock manager Dan Stivers defends his company claiming that it has always used only renewable energy.
He adds that the mine uses the services of a licensed recycling company that deals with its electronic waste.