White House retracts “emergency” crypto mining survey
The White House has rescinded an “emergency” survey that sought detailed information on energy consumption from U.S. cryptocurrency miners, following legal challenges from the industry. The Energy Information Administration (EIA) had issued the survey in late January, citing concerns over potential public harm due to increased energy demand from Bitcoin mining. The Texas Blockchain Council and Riot Platforms, a prominent Bitcoin mining company, filed for a temporary restraining order against the EIA, claiming administrative overreach.
The EIA’s decision to cancel the survey, announced on February 26, means that no mining company is currently obligated to provide the requested data. The survey had initially been presented as a simple 30-minute data collection task, but the industry criticized it for being overly complex and intrusive, potentially exposing sensitive proprietary information. The EIA must now follow standard notice and comment procedures for any future data requests, allowing for industry input on the survey’s scope.
The survey’s cancellation is seen as a significant win for the cryptocurrency mining sector, which has been making strides toward energy efficiency and regulatory compliance. The industry has been proactive in participating in demand response programs to alleviate grid stress during peak periods, a fact that was overlooked in the EIA’s rationale for the survey. The Chamber of Digital Commerce and the Texas Blockchain Council view this outcome as a milestone in their efforts to promote fair regulation and understanding of digital commerce.
Despite the victory, the industry anticipates continued challenges in fighting government overreach and advocating for regulatory certainty. The recent incident highlights the importance of unity and proactive engagement in addressing regulatory issues. The cryptocurrency mining community remains committed to advocating for policies that support innovation while protecting consumers and the integrity of the digital economy.