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Home CRYPTO

U.S. Energy Department Backtracks on Bitcoin Mining ‘Emergency’ Survey

by Conie
March 1, 2024
in CRYPTO
Reading Time: 2 mins read
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  • The U.S. Energy Information Administration (EIA) launched an emergency survey to gather data on Bitcoin mining energy use, but faced pushback from the industry who argued it was unreasonable.
  • Bitcoin miners and industry groups like the Texas Blockchain Council sued the EIA, saying the expansive survey overstepped by demanding extensive data with threats of fines.
  • The EIA has now halted its emergency Bitcoin mining survey, admitting it should have followed proper public comment processes. This is a major win for the mining industry against government overreach.

The U.S. Energy Information Administration (EIA) has halted its emergency Bitcoin mining energy survey after pushback from the industry. This is a win for Bitcoin miners who argued the survey overstepped.

The EIA launched an emergency survey in January to gather data on the energy use of U.S. Bitcoin mining companies. But the industry fought back, arguing the survey was unreasonable. Now the EIA is backing down.

Miners Object to Survey’s Scope

The survey would have forced mining firms to submit extensive data on electricity consumption. This included details on the number of facilities, locations, power sources, and blockchain types. Firms faced criminal fines for refusing to comply.

The EIA claimed the survey was urgent to assess Bitcoin’s environmental impact. But miners said it went too far. The Texas Blockchain Council and Riot Blockchain sued the EIA for overreach.

JUST IN: 🇺🇸 US Energy Department cancels its survey of #Bitcoin miners following the lawsuit filed by Riot Platforms and Texas Blockchain Council 🚀

— BlockNews.com (@blocknewsdotcom) March 1, 2024

Victory for the Miners

On February 26th, the EIA confirmed it has ditched the emergency survey plans. The agency admitted it should have followed standard public comment processes.

Going forward, the EIA will have to be more transparent about data requests. This is a major win for the mining industry in defending its interests.

The Road Ahead

While miners support reasonable data sharing, this survey crossed the line. The industry continues to make strides in transparency around energy use. With the right approach, miners and regulators can find common ground. But the EIA learned its lesson—progress will come through cooperation, not coercion.

Tags: BitcoinBlockchaincrypto
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