President Bidens proposed a tax on crypto-mining: a step in the right direction

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Washington, DC (May 5, 2023) – In response to President Biden’s Digital Asset Mining Energy (DAME) excise tax proposal, Joshua Archer, Greenpeace USA’s Bitcoin Project Manager, said: Bitcoin miners profit at the expense of communities and our planet. . President Biden’s proposed DAME tax on crypto mining is a step in the right direction and could encourage miners to start paying their fair share. But we cannot tax our way out of the climate crisis. To champion the health and well-being of affected communities and reduce emissions while keeping our planet habitable, we need a fundamental shift in the energy-intensive code that is pushing Bitcoin mining off the cliff. Bitcoin, the largest and most polluting cryptocurrency, emits greenhouse gas (GHG) emissions in the United States every year that rival those of mid-sized countries. This is the main driver of these crypto mines. By changing its code, Bitcoin could reduce its GHG emissions by more than 99%, and these mines would all but disappear.

A recent report by the Environmental Working Group (EWG) shows that Bitcoin mining is having a devastating impact on communities due to significant noise, air and water pollution, leading to serious problems. health. Additionally, a recent New York Times article revealed the shocking energy consumption of Bitcoin mining, with the industry’s carbon footprint exceeding that of many countries. It is clear that steps must be taken to address the environmental and social impacts of Bitcoin mining.

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Contact: Gigi Singh, Senior Communications Specialist at Greenpeace USA (+1) 631-404-9977, [email protected]

Greenpeace USA is part of a global network of independent campaign organizations that use peaceful protest and creative communication to expose global environmental issues and promote solutions essential to a green and peaceful future. Greenpeace USA is committed to fundamentally transforming the nation’s unjust social, environmental, and economic systems to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

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