Us Congress 2023-2024 Regular Session

Us Congress House Bill HR238

Introduced
3/21/23  

Caption

Expressing the sense of the House of Representatives regarding the importance of Proof-of-Work mining, used for certain cryptocurrencies such as Bitcoin, to the United States ability to achieve its energy goals and grow its economy.

Impact

By underscoring the role of PoW mining in energy consumption and its economic implications, HR238 presents an argument that aligns energy development with national economic and security interests. The resolution notes that PoW mining engages with low-cost energy and can utilize surplus energy during off-peak times. This theoretically enhances the economic viability of renewable energy projects, in addition to showcasing the miners’ potential to respond swiftly to energy demands, which could stabilize the grid during crises.

Summary

House Resolution 238 expresses the sense of the House of Representatives regarding the significance of Proof-of-Work (PoW) mining for cryptocurrencies like Bitcoin. The resolution emphasizes that PoW mining is pivotal for achieving the United States' energy goals while contributing positively to economic growth. It argues that while PoW mining requires energy, its impact is often overstated since it only consumes a small fraction of global energy. Furthermore, the resolution highlights how PoW operations can help stabilize the electricity grid and reduce unpleasant impacts on energy usage during peak demand.

Contention

While the resolution aims to position PoW mining positively, there could be contentions among policymakers regarding environmental and energy resource management. The narrative in HR238 could face scrutiny from groups concerned about the energy use implications and the environmental footprint of mining operations. Furthermore, the resolution's endorsement of PoW mining comes at a time when alternative digital currency approaches are being advanced globally, prompting debates about the best path forward for the U.S. in the digital currency landscape.

Companion Bills

No companion bills found.

Previously Filed As

US HR339

Expressing the sense of the House of Representatives that an "all-of-the-above" energy strategy is the most viable approach to energy policy.

US HR270

Expressing the sense of the House of Representatives that the United States should negotiate strong, inclusive, and forward-looking rules on digital trade and the digital economy with like-minded countries as part of its broader trade and economic strategy in order to ensure American values of democracy, rule of law, freedom of speech, human and worker rights, privacy, and a free and open internet are at the very core of digital governance.

US HR124

Expressing the sense of the House of Representatives that the United States should support the expansion of domestic nuclear energy and advanced nuclear technology as a viable source of power in order to promote United States nuclear energy leadership and global energy independence.

US HR472

Expressing the sense of the House of Representatives regarding United States policy recognizing the Semele Massacre of 1933.

US HR209

Expressing the sense of the House of Representatives regarding the importance of taking a feminist approach to all aspects of foreign policy, including foreign assistance and humanitarian response, trade, diplomacy, defense, immigration, funding, and accountability mechanisms.

US HR234

Expressing the sense of the House of Representatives relating to the commemoration of the 190th anniversary of diplomatic relations between the United States and the Kingdom of Thailand.

US HR238

Expressing the sense of the House of Representatives that every person has the basic right to emergency health care, including abortion care.

US HR545

Expressing the sense of the House of Representatives to reduce traffic fatalities to zero by 2050.

US HR180

Expressing the sense of the House of Representatives that Thomas Garrett was and should be recognized as a national abolitionist leader and activist in the struggle against slavery in the United States.

US HCR68

Expressing support for the recognition of September 26, 2023, as "World Contraception Day" and expressing the sense of the House of Representatives regarding global and domestic access to contraception.

Similar Bills

No similar bills found.