WASHINGTON D.C. (WENY) -- The White House Office of Science and Technology Policy released a report Thursday detailing potential standards for the nation’s crypto-currency mining industry as part of the Biden administration’s stated goal of reducing greenhouse gas emissions by 50 percent by 2030. If enacted, these regulations would be designed to reduce greenhouse gas emissions, avoid operations that increase the cost of electricity to consumers and avoid operations that reduce the reliability of electric grids. 

The United States is currently estimated to host roughly 33 percent of the global crypto-asset operations. Given the current number of crypto currency operations in the U.S. it is estimated that they currently consume about 0.9 percent to 1.7 percent of total U.S. electricity usage. According to the White House, this range of electricity usage equates to every single home computer or residential lighting operating in the United States. 

The report has already been seized upon by local environmental groups dead set against the crypto-currency mining operation currently operating at Greenidge Generation in Dresden.  

"The White House has taken a firm position that proof of work cryptomining is a serious threat to our climate goals. Full stop. There can be no excuse for further delay: Governor Hochul must follow the recommendations of the federal government and sign the cryptomining moratorium now,” said Yvonne Taylor, vice-president of Seneca Lake Guardian, in a prepared statement. 

Currently at Greenidge, there are roughly 20,000 active crypto-currency mining computers that run 24 hours a day seven days a week. The computers are continuing to run while Greenidge Generation Holdings appeals a state Department of Environmental Conservation decision to deny its application for a Title V air permit renewal. Greenidge Generation President Dale Irwin previously vowed that Greenidge’s crypto operation would remain in operation while they appeal the DEC’s decision.  

“The Governor has taken bold climate action on Greenidge Generation, and we urge her to keep up the winning streak now by standing with the White House and all New Yorkers who believe in a future for our planet," said Taylor. 

Greenidge released a statement on Thursday in response to the news from the White House. "We are proud that Greenidge’s operations in New York not only operate fully within our existing environmental permits, and have created massive new economic opportunity for those in our region, but also increase local grid reliability. Our operations are also fully transparent, and we agree with the White House’s goals for transparency and accountability in an industry that we’ve proven holds great promise for the future."

A copy of the report can be found here.