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What happened?
A recent study led by Harvard University highlighted the environmental and health impacts of Bitcoin mining in the U.S. The research found that emissions from major Bitcoin mining facilities release fine particulate matter (PM2.5), which travels across state lines, impacting millions. This study calls for federal actions to fill regulatory gaps due to the cross-border pollution concerns.
Who does this affect?
The pollution from Bitcoin mining affects around 1.9 million Americans who are exposed to increased levels of PM2.5. Regions identified with the highest exposure include New York City, the Houston/Austin corridor, and parts of Illinois and Kentucky. These areas face higher health risks and premature deaths due to the elevated pollution levels.
Why does this matter?
This issue has significant implications for the energy market and could shape future regulations on cryptocurrency mining. The U.S. Environmental Protection Agency (EPA) may need to implement stricter rules to manage interstate air pollution. Additionally, there is growing scrutiny and potential financial costs for the crypto industry as global bodies like the IMF propose tax increases to counteract the environmental toll.
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