Sen. Elizabeth Warren (D-MA) and other Democrats are demanding to know how much energy Texas crypto miners are consumers, claiming the issue is related to the state’s power grid failures a year ago.
Warren and six other Democrats sent a letter to the Texas grid operator on Wednesday for more details on the issue.
Sen. Elizabeth Warren demands details on Texas crypto mining energy consumption https://t.co/5PA3HMmgY2 pic.twitter.com/0AjVC9YnKp
— The Verge (@verge) October 12, 2022
“An investigation that several of us released earlier this year revealed that cryptominers are using substantial amounts of electricity,” the letter read.
“Data from just seven large cryptominers indicated that they presently operate over 1,045 megawatts (MW) of electric production capacity – enough capacity to power a city of 830,000 residences,” it added.
Elizabeth Warren Calls Texas ‘Deregulated Safe Harbor’ for Bitcoin Miners https://t.co/wzALCFv1cM pic.twitter.com/bHMxpyn3uh
— /r/CryptoCurrencies (@rCryptoCurrenc1) October 13, 2022
“I’ve been working for the last year to make sure the public understands the economic and climate risks from crypto,” Warren said in a statement on Wednesday.
“Cryptominers’ energy use rivals that of entire countries, and taxpayers — in Texas or anywhere in the nation — shouldn’t subsidize their profits, especially when the energy grid is on the verge of collapse,” she added.
EXCLUSIVE: Senator Elizabeth Warren is leading a group of Democratic lawmakers who are pressing Texas officials for details on how cryptocurrency miners may be straining the state’s power grid https://t.co/3iSba7FaBQ
— Bloomberg Crypto (@crypto) October 12, 2022
The new demands are now expected to go well among Texas leaders who will push back against out-of-state Democrats seeking to influence the state’s politics.
The timing of the letter just weeks ahead of the midterm elections and the Texas governor’s election is also highly suspect.
Warren and the left appear to have nothing left but to complain about problems in other states from a year ago as a growing red wave threatens to take back both the House and Senate two years into President Joe Biden’s term.