#EIA #CryptoMining #RiotPlatforms #TexasBlockchain #DOE #OMB #BitcoinMining #EnergyConsumption
The Energy Information Administration (EIA) put a halt to its survey of cryptocurrency mining operations on February 23rd after facing legal actions from entities within the crypto mining community. This decision came in the wake of a lawsuit filed on February 22nd by crypto mining company Riot Platforms and the Texas Blockchain Council. The lawsuit targeted the EIA, the Department of Energy, the Office of Management and Budget (OMB), and the leaders of these agencies, challenging the survey’s legality and purpose. The EIA subsequently announced a pause on the survey, indicating that it would not enforce the requirement to file Form EIA-862 or impose any penalties for non-compliance through March 22, 2024, also agreeing to sequester any collected data until further notice.
The controversy stems from concerns about the survey’s implications for the privacy and operational freedom of crypto mining firms, as well as debates over the environmental impact of cryptocurrency mining. Republican Congressman Tom Emmer voiced his objections to the data collection efforts on February 22nd, disputing the premise that crypto mining poses a public hazard. The lawsuit by Riot and the Texas Blockchain Council further argued against the emergency approval of the survey, labeling the alleged public harm as baseless. Furthermore, the survey’s connections to the Biden administration and proposed energy limitation actions on mining operations underscore a political dimension to the dispute. The EIA’s initiative aimed at gathering data from 82 crypto-mining companies under threat of substantial fines, illuminates the broader tension between the crypto industry and regulatory bodies over energy use and environmental concerns.
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