Back to main

US Cryptocurrency Mining Leaders Raise Concerns Over Emergency Energy Survey

Key figures representing United States-based cryptocurrency mining have expressed concerns about an emergency survey aimed at gathering information on energy consumption and sources by operators.

Cointelegraph contacted leading mining firms operating in the country following the announcement by the U.S. Energy Information Administration (EIA) regarding a provisional, mandatory survey to gauge the electricity usage of local mining firms.

In January 2024, the Department of Energy’s statistics agency received approval for its “emergency request” to collect data.

The administration aims to develop a “baseline snapshot,” identifying electricity sources for U.S. cryptocurrency miners and pinpointing regions with concentrated mining activity.

Various mining firms and organisations representing the broader blockchain industry have raised concerns over the legality of the approach and questioned why government-run institutions are targeting the cryptocurrency mining industry.

Respondents expressed concerns about the lack of clarity regarding the reason for the emergency survey and suspicions of political motivations.

Lee Bratcher, president of the Texas Blockchain Council (TBC), criticised the “unprecedented information collection request” and highlighted the potential impact on industries relying on data centres:

“The EIA’s mandatory emergency survey of electricity consumption data represents the latest politically motivated campaign against Bitcoin mining, cryptocurrency, and U.S.-led innovation.”

Bratcher suggested that the survey is an abuse of authority aimed at furthering the Biden administration’s goal to limit or eliminate U.S.

READ MORE: Ethereum Foundation Explores Strategies to Optimize Blockchain for Rollup-Centric Roadmap

Bitcoin miners, while ignoring the industry’s use of renewable energy and operational flexibility.

Riot Blockchain echoed Bratcher’s sentiments, stating that the EIA’s request is unlawful and appears to serve a political agenda.

Brian Morgenstern, Riot’s head of public policy, labelled the survey as a politically motivated attack on Bitcoin driven by U.S. Senator Elizabeth Warren.

Commentators have questioned why the EIA has not imposed similar mandatory data collection measures on other energy-intensive industries in the U.S.

Taras Kulyk, CEO of SunnySide Digital, expressed concerns about the lack of context regarding the collection’s intent and why the digital mining sector is being singled out.

Colin Harper, head of research and content at Bitcoin mining software company Luxor, described the EIA’s move as concerning, noting the agency’s limited previous engagement with data center power use.

Cointelegraph also contacted U.S. mining firms Hut8, Core Scientific, Marathon Digital, and Foundry for their perspectives on the EIA’s energy data information survey. Iris Energy declined to comment.

Discover the Crypto Intelligence Blockchain Council

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read on Crypto Intelligence Investment Disclaimer