Dear Honorable Representative:

I am writing to you as a concerned, voting Louisiana citizen and resident.

 

I am writing in OPPOSTION to HB488: “Provides relative to blockchain and digital asset regulation” which would limit the ability of local governments to respond to citizen's concerns around noise, energy use, and ratepayer impacts from cryptocurrency mining operations. House floor debate is scheduled for April 2.

 

Commercial cryptocurrency mining operations require a series of networked high-speed supercomputers to solve complex mathematic puzzles to verify transactions. Cryptocurrency mining supercomputers consume vast amounts of energy and are known to drive up electricity prices.

 

Often, energy grids are not well-equipped to handle the additional load which frequently results in increased costs due to electricity demand, or additional new infrastructure to support the operations. In either case, the costs to build out the additional capacity or infrastructure are passed through to ordinary rate-paying citizens. Often this results in re-starting defunct coal or gas plants. Already, 4 fossil-fuel powered plants have been purchased and converted to mine proof-of-work cryptocurrency mining.

 

Additionally, mining operations contribute significantly to noise pollution. A single mining supercomputer can create between 70 and 90 decibels, creating noise within communities that has been described as “like a jet engine idling on a nearby tarmac.” Hence, the importance of being able to explore local solutions that municipalities are often preempted from.

 

The world is in a critical time period in which we must curb carbon emissions. Although some progress has been made, it is not nearly enough, even to meet the Paris Accord (limiting warming to 1.5 degrees C), which in itself is a very low bar and will still allow catastrophic damage. Proliferation of crypto-centers will take us in the EXACT opposite direction. The Louisiana economy functions through gold rushes and our legislature flocks to the latest money grab. Crypto-currency is a currently a fad, but after it fades, we will be left with vast, empty, useless, wasted dinosaur structures, the way our petrochemical energy infrastructure will become. The US is one of the highest absolute and per capita emitters in the world. Currently Louisiana is disproportionately high (5th) in the nation in per capita emissions AND in total emissions, due to our high industrial load.

Passing this legislation will only worsen our (and the nation’s and world’s) situation. Please vote no in the House vote, even if your district may benefit financially in the short run. House floor debate is scheduled for April 2.  Please also inform any like-minded legislators.

 

Thank you for your consideration,

Sincerely,

 

 

reference: THE ENERGY BOMB How Proof-of-Work Cryptocurrency Mining Worsens the Climate Crisis and Harms Communities Now

https://earthjustice.org/wp-content/uploads/energy_bomb_bitcoin_white_paper_101322.pdf

Sierra Club

https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_carbon_dioxide_emissions

https://en.wikipedia.org/wiki/List_of_countries_by_carbon_dioxide_emissions_per_capita