US Senators Ask Treasury to Monitor Impact of Crypto Mining on the Semiconductor Supply Chain

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The US Treasury Department should study and report to Congress on the activity and impact of crypto miners from other countries on the global economy, as described in the bill introduced by Senators Maggie Hassan and Joni Ernst.

The document is intended to raise the awareness of the authorities about the possible measures to increase the competitiveness of the United States. In addition to the impact of mining on semiconductor supply chains and various technologies, lawmakers are also interested in understanding how cryptos are used in other countries.

Argo Blockchain is investing in the construction of a data center with an area of ​​185 football fields in West Texas. Its capacity will be directed to Bitcoin mining using renewable energy sources.

In the same state, a similar project is being implemented by the Chinese BIT Mining Limited. In September, the firm announced the construction of a mining center in Ohio.

Mining hardware maker Bitmain recently agreed to supply 56,000 miners to work with partners in Georgia.

Earlier, Hassan sent a letter to a number of institutions in which she expressed her concerns about the use of cryptos as a ransom for ransomware.