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EIA May Try to Re-Examine Cryptocurrency Miners Before Year’s End
The Energy Information Administration (EIA) said it may restart its efforts to scrutinize cryptocurrency mining companies this year during a 10th of July Web seminar.
According to Bitcoin Magazine, the agency’s attempts to restart the survey could begin as early as the current quarter.
However, the Federal Registrar does not include any ongoing or pending attempts to conduct an investigation, the report says.
EIA is currently seeking feedback from the public and industry. The latest webinar sought input on the types of information future surveys might collect, the value of data already collected, and considerations in designing future surveys.
The EIA lacks information in some areas. The agency said it is difficult to distinguish mining from other energy consumers in general, and noted that mining companies may move into low-cost energy areas, further complicating monitoring.
Alternative approaches
EIA’s previous attempt to collect data from miners was highly controversial, and industry participants have sought to provide alternatives to EIA’s previous approach.
During the webinar, Blockchain Council of Texas founder and president Lee Bratcher Such investigations should include data centers in general and should not focus exclusively on cryptocurrency miners. Digital Marathon Senior vice president for government affairs Jayson Browder echoed Bratcher’s concerns.
Margot Paez, a fellow at the Bitcoin Policy Institute, noted that Lawrence Berkely National Laboratory is studying artificial intelligence and data center energy consumption and suggested that the EIA collaborate with the lab. She said the lab, acting as a non-governmental agency, could collect data and anonymize it before providing it to the EIA.
Members of the Digital Energy Council and the Blockchain Association also participated in the webinar.
First attempt at investigation
The EIA announced plans to launch a mandatory investigation in late January, after receiving emergency approval from the Office of Management and Budget (OMB).
The Texas Blockchain Council and the Mining Company Riot platforms has filed a lawsuit against the EIA in Februaryarguing that the agency should have conducted a comment period before seeking approval from OMB or that it would have to demonstrate public harm to obtain approval for the investigation under emergency powers. Majority Whip Tom Emmer had previously raised similar concerns.
The EIA suspended the investigation at the end of February and agreed to end initiate litigation and destroy or seize the information a few weeks later, in March.
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Posted in: In the spotlight, Extraction