US energy regulators halt crypto miner survey after lawsuit
The U.S. Energy Information Administration (EIA) has reached a settlement to cease its emergency survey of cryptocurrency miners, which had sparked legal action from industry stakeholders. The agreement, confirmed on March 1, requires the EIA to destroy any data already collected and keep any forthcoming information confidential until it is discarded. The survey, initiated in late January under the EIA-862 Emergency Collection Request, aimed to assess the energy consumption of Bitcoin mining operations. However, it faced opposition from the Texas Blockchain Council (TBC) and Riot Platforms, who argued that the survey’s demands were intrusive and could cause irreversible harm by forcing the disclosure of proprietary information.
The settlement not only halts the survey but also cancels a temporary restraining order that was in effect until March 8. The EIA, along with the U.S. Department of Energy and the Office of Management and Budget (OMB), will pay $2,199.45 in legal costs and fees to the plaintiffs. Additionally, the EIA will publish a new notice in the Federal Register to restart the survey process, allowing for a 60-day public comment period. This move comes after industry criticism, including from Republican Congressman Tom Emmer, who questioned the necessity of the survey and the lack of a required comment period.
The controversy began when the White House authorized the EIA to conduct the survey, which was perceived as an emergency measure based on questionable justifications related to the environmental impact of cryptocurrency mining. The industry, which has been working towards energy efficiency and regulatory compliance, felt that the survey’s methodology was not in line with operational realities and overlooked miners’ proactive measures, such as participation in demand response programs.
The outcome of the legal challenge is seen as a victory for the cryptocurrency mining industry and a testament to the effectiveness of collective action against government overreach. The Chamber of Digital Commerce and the Texas Blockchain Council view the event as a milestone in advocating for fair regulation and understanding of digital commerce. Despite the victory, they anticipate continued efforts to fight for regulatory certainty and support innovation while protecting consumers and the digital economy.