Dorsey, Saylor, Fidelity and others defend environmental impact of bitcoin mining in letter to EPA

These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC Some of the biggest names in bitcoin — including Jack Dorsey, Tom Lee, and Michael Saylor — have banded together to refute claims made by House Democrats calling on the Environmental Protection Agency to investigate the environmental effects of crypto mining. Bitcoin operates on a proof-of-work (PoW) mining model, meaning that miners around the world run high-powered computers to simultaneously create new bitcoin and to validate transactions. Proof-of-work mining, which…

Read More

Apple backs Biden’s proposal to eliminate greenhouse gases from power plants by 2035

Steve Proehl | Corbis Unreleased | Getty Images Apple supports a clean energy standard proposed by the Biden administration that would eliminate greenhouse gases from power plants by 2035, said Lisa Jackson, Apple’s VP of environment, policy, and social initiatives. Environmental Protection Agency Administrator Michael Regan met with Jackson at company headquarters on Tuesday to discuss the proposed standard, Jackson told CNBC’s Deirdre Bosa. “Apple has come out as a vocal supporter of a clean energy standard, of 100% clean grid by 2035. We would love to see that,” Jackson…

Read More