Alternate cryptocurrencies mining

The energy efficiency of mining equipment has been increasing, but electricity usage continues to rise. Other less energy-intensive crypto-asset ledger technologies exist, with different attributes and uses. The United States is estimated to host about a third of global crypto-asset operations, which currently consume about 0. This range of electricity usage is similar to all home computers or residential lighting in the United States.

Crypto-asset mining is also highly mobile. Despite the potential for rapid growth, future electricity demand from crypto-asset operations is uncertain, demonstrating the need for better data to understand and monitor electricity usage from crypto-assets.

This range of emissions is similar to emissions from diesel fuel used in railroads in the United States. Besides purchased grid electricity, crypto-asset mining operations can also cause local noise and water impacts, electronic waste, air and other pollution from any direct usage of fossil-fired electricity, and additional air, water, and waste impacts associated with all grid electricity usage. These local impacts can exacerbate environmental justice issues for neighboring communities, which are often already burdened with other pollutants, heat, traffic, or noise.

The growth of energy-intensive crypto-asset technologies, when not directly using clean electricity, could hinder the ability of the United States to achieve its National Determined Contribution under the Paris Agreement, and to avoid the most severe impacts of climate change. Broader adoption of crypto-assets, and the potential introduction of new types of digital assets require action by the federal government to encourage and ensure responsible development.

This includes minimizing negative impacts on local communities, significantly reducing energy intensity, and powering with clean electricity. Distributed Ledger Technologies May Help with Climate Monitoring or Mitigation DLT may have a role to play in enhancing market infrastructure for a range of environmental markets like carbon credit markets, though other solutions might work as well or better.

The potential benefits of DLT would need to outweigh the additional emissions and other environmental externalities that result from operations to merit broader use, relative to the markets or mechanisms that DLT displaces. Use cases are still emerging, and like all emerging technologies, there are potential positive and negative use cases yet to be imagined. Responsible development of this technology would encourage innovation in DLT applications while reducing energy intensity and minimizing environmental damages.

Key Recommendations of the Report To help the United States meet its climate objectives, crypto-asset policy during the transition to clean energy should be focused on several objectives: reduce greenhouse gas emissions, avoid operations that will increase the cost of electricity to consumers, avoid operations that reduce the reliability of electric grids, and avoid negative impacts to equity, communities, and the local environment.

To ensure the responsible development of digital assets, recommendations include the following actions for consideration: Minimize greenhouse gas emissions, environmental justice impacts, and other local impacts from crypto-assets: The Environmental Protection Agency EPA , the Department of Energy DOE , and other federal agencies should provide technical assistance and initiate a collaborative process with states, communities, the crypto-asset industry, and others to develop effective, evidence-based environmental performance standards for the responsible design, development, and use of environmentally responsible crypto-asset technologies.

These should include standards for very low energy intensities, low water usage, low noise generation, clean energy usage by operators, and standards that strengthen over time for additional carbon-free generation to match or exceed the additional electricity load of these facilities.

Should these measures prove ineffective at reducing impacts, the Administration should explore executive actions, and Congress might consider legislation, to limit or eliminate the use of high energy intensity consensus mechanisms for crypto-asset mining.

DOE and EPA should provide technical assistance to state public utility commissions, environmental protection agencies, and the crypto-asset industry to build capacity to minimize emissions, noise, water impacts, and negative economic impacts of crypto-asset mining; and to mitigate environmental injustices to overburdened communities.

Ensure energy reliability: DOE, in coordination with the Federal Energy Regulatory Commission, the North American Electric Reliability Corporation and its regional entities, should conduct reliability assessments of current and projected crypto-asset mining operations on electricity system reliability and adequacy.

The best alternative to direct mining is selling your hashing computation power. The most known - and only - hashpower broker is NiceHash. At NiceHash users can sell their hashing power from either ASIC devices, dedicated mining rigs or just a decent gaming computer.

What is special about NiceHash is that the whole experience of trying and selling your computer or ASIC hashing power is made easy. You can start selling your hashing power in just about 20 seconds with NiceHash QuickMiner tryout. No registration required! But in fact, ASIC miners can use NiceHash too and sell their hashing power to the buyers, who often pay more than the break-even price. It has a great UI and simple UX. What are the benefits of mining at NiceHash?

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