Cryptocurrency

2024

Bitcoin

<a href="https://bitcoinworld.co.in/us-department-of-energy-doe-wants-crypto-miners-to-share-their-energy-consumption/" title="US Department of Energy (DoE) Wants Crypto Miners To Share Their Energy Consumption" rel="nofollow"></a>
Starting from next week, the US Department of Energy (DoE) wants US-based crypto miners to share their energy consumption as part of its efforts to “generate credible data” and provide insight into miners’ electricity use and its effects. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We're initiating collection of data regarding <a href="https://twitter.com/hashtag/electricity?src=hash&amp;ref_src=twsrc%5Etfw">#electricity</a> use by US <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw">#cryptocurrency</a> miners. 
 We'll ask about their electricity consumption so we can better understand their energy demands. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/gYpZgtiD6J">https://t.co/gYpZgtiD6J</a> <a href="https://t.co/pQ9ULoLAAU">pic.twitter.com/pQ9ULoLAAU</a> 
 — EIA (@EIAgov) <a href="https://twitter.com/EIAgov/status/1752740768651866455?ref_src=twsrc%5Etfw">January 31, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In an emergency request that was approved by the Office of Management and Budget (OMB) this week, the US Energy Information Administration (EIA) <a href="https://www.eia.gov/pressroom/releases/press550.php">claimed</a> that a combination of a major cold snap in the US and increased crypto mining activity brought about by the increasing price of bitcoin may cause “heightened uncertainty in electric power markets.”&nbsp; 
It adds that this could “affect system operations and consumer prices.” 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/11-publicly-listed-bitcoin-miners-may-not-mine-profitably-after-halving/" aria-label="“11 Publicly-Listed Bitcoin Miners May Not Mine Profitably After Halving” (Edit)">11 Publicly-Listed Bitcoin Miners May Not Mine Profitably After Halving</a> 
As a result, commercial crypto miners identified by the agency are required to share their energy usage details as part of a survey titled Proposed Emergency Survey – Cryptocurrency Mining Facilities. 
According to the EIA’s request, time is of the essence, and “public harm is reasonably likely if normal clearance procedures are followed.” 
The request also states, “Given the emerging and rapidly changing nature of this issue and because we cannot quantitatively assess the likelihood of public harm, EIA feels a sense of urgency to generate credible data that would provide insight.” 
An administrator for the EIA said the survey will focus on evolving crypto-mining energy demands, finding geographic areas of high growth, and quantifying the sources of electricity used in crypto-mining. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoins-price-slump-and-how-it-affects-miners/" aria-label="“Bitcoin’s Price Slump And How It Affects Miners” (Edit)">Bitcoin’s Price Slump And How It Affects Miners</a> 
It also added that the EIA is open to comments from the public about the collection of energy usage data from crypto miners. 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/us-department-of-energy-doe-wants-crypto-miners-to-share-their-energy-consumption/">US Department of Energy (DoE) Wants Crypto Miners To Share Their Energy Consumption</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

US Department of Energy (DoE) Wants Crypto Miners To Share Their Energy Consumption

ItsBitcoinWorld

Other articles published on Feb 2, 2024

Hong Kong’s PCPD investigates Worldcoin over privacy concerns

VC Roundup: Institutional staking, car network, and Move VM funding deals

Comedian Larry David said he was ‘an idiot’ to do FTX Super Bowl ad

Altcoins Soar as Cryptocurrency Market Sees Notable Gains

AI Safety Training Techniques Ineffective Against Deceptive Language Models

Ben ‘BitBoy’ Armstrong baits media with dramatic YouTube ‘quit’

Join our free newsletter for daily crypto updates!