Following substantial opposition, the US has paused its endeavor to gather vitality consumption knowledge from Bitcoin miners.
The Power Data Administration (EIA), a US Division of Power division, introduced plans to assemble info on crypto miners’ vitality utilization final month.
Bitcoin Mining Survey Suspended
EIA’s transfer was met with rapid backlash from the mining neighborhood and varied US legislators who deemed it intrusive. Consequently, Riot Platforms, a outstanding Bitcoin mining agency, and the Texas Blockchain Council initiated authorized motion in opposition to the authorities, arguing that the survey was illegal and politically pushed.
A court docket order from February 23, shared by Pierre Rochard, Riot’s VP of Analysis, revealed that the court docket dominated in favor of the Bitcoin miners. It discovered the Power Division’s justification missing and criticized the motion as arbitrary, capricious, and an abuse of discretion.
In consequence, the court docket issued a short lived restraining order, halting the survey and mandating the EIA to isolate the information it had already collected from Bitcoin miners. Moreover, the EIA confirmed it could droop its necessary survey and sequester the gathered knowledge for a month.
“EIA won’t implement any requirement to file Type EIA-862 nor search or impose any fines, penalties, or different opposed penalties primarily based on a failure to answer the survey by way of March 22, 2024,” EIA stated.
The latest judgment has been lauded by many within the crypto neighborhood. Environmentalist and enterprise investor Daniel Batten emphasised the significance of truthful therapy for all vitality customers. Batten additional criticized the discriminatory nature of harsh penalties for Bitcoin knowledge facilities in comparison with a lenient strategy towards AI knowledge facilities’ vitality utilization.
In alignment with these viewpoints, GOP Majority Whip Rep. Tom Emmer applauded the survey’s suspension, condemning the EIA’s push for Bitcoin miners to reveal proprietary knowledge.
Lately, cryptocurrency miners have confronted elevated scrutiny about their affect on the atmosphere and their excessive vitality utilization. Nonetheless, stakeholders have argued that BTC mining actions contribute to the soundness and effectivity of energy techniques.
US Senator Cynthia Lummis significantly praised Bitcoin mining for its optimistic contributions to America’s vitality grids and the exploration of recent vitality sources.
“As I’ve mentioned for years, bitcoin mining is GOOD for America’s vitality grids and the event of recent/stranded vitality sources. Glad to see EIA briefly droop its intrusive and ailing suggested survey,” Lummis said.
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