Cryptocurrency

Read

/send

<div class="protos">
 <div>
  <div>
   <div>
    <p>The <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> Energy Information Administration (EIA) has been acc<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>ed of “federal overreach” and of ab<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>ing its authority after it was announced that it would granted the <a rel="noopener noreferrer nofollow" title="power" href="https://thebittimes.com/tag/power.html">power</a> to regularly <a rel="noopener noreferrer nofollow" title="collect" href="https://thebittimes.com/tag/collect.html">collect</a> <a rel="noopener noreferrer nofollow" title="energy" href="https://thebittimes.com/tag/energy.html">energy</a> <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>e data from <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> miners, reports Bloomberg.</p>
    <p>Last week, in an emergency request that was approved by the Office of Management and Budget (OMB), the EIA was cleared to demand that commercial crypto miners share their energy usage details as part of a survey titled Proposed Emergency Survey — Cryptocurrency Mining Facilities.</p>
    <p>The clearance was granted as a matter of urgency after the EIA claimed 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.”</p>
    <p>It also alleged in its request that “<strong>public harm is reasonably likely if normal clearance procedures are followed</strong>.”</p>
    <p>However, despite these claims, the move has drawn strong criticism from two groups in particular.</p>
    <p>In a statement, Texas Blockchain Council president Lee Bratcher and Perianne Boring, chief exec of the Chamber of Digital Commerce said, “The EIA’s emergency action is tantamount to federal overreach and has implications for all industries that rely on data centers for their operations.”</p>
    <p>They added that the move was “<strong>politically motivated to help the White House achieve its goals</strong> to cut greenhouse gas emissions.”</p>
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper">
      <blockquote class="wp-embedded-content" data-secret="0zPk0rJdN8">
       US wants crypto miners to rush through energy use data or risk ‘public harm’
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“US wants crypto miners to rush through energy use data or risk ‘public harm’” — Protos" src="https://protos.com/us-wants-crypto-miners-to-rush-through-energy-use-data-or-risk-public-harm/embed/#?secret=CXcHmvHNZo#?secret=0zPk0rJdN8" data-secret="0zPk0rJdN8" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
     </div>
    </figure>
    <p><em>Read more: Europol says alleged crypto miner made millions from stolen electricity</em></p>
    <p>In response, the EIA stated, “We conduct dozens of surveys with energy producers and consumers — some of which we’ve been conducting for decades. We’re hopeful we can work with companies in the cryptocurrency industry to provide the American public with a clear understanding of energy use.”</p>
    <p>According to the EIA, in 2023, crypto mining was <strong>responsible for up to 2.3%</strong> of the USA’s entire electricity use.</p>
    <p><em>Got a tip? Send <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> an email or ProtonMail. For more informed news, follow <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em>&nbsp;</p>
   </div>
  </div>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-department-of-energy-plan-to-collect-crypto-energy-data-is-abuse-of-power-tbt79270.html">https://thebittimes.com/us-department-of-energy-plan-to-collect-crypto-energy-data-is-abuse-of-power-tbt79270.html</a></p>

US Department of Energy plan to collect crypto energy data is 'abuse of power'

TheBitTimes

Other articles published on Feb 8, 2024

Solana's Shiba Inu, Dogwifhat (WIF), Suddenly Skyrockets 25%: Key Reason

Deepfake threats escalate in the crypto community: Vitalik Buterin and Michael Saylor among victims

DeFi compliance to be a top industry trend in 2024, says Ripple’s president

Matrixport Said “There Might Be an Uptrend in Bitcoin in the Coming Days”, Gave a Forecast: “Bewa...

Investors Pivot to NuggetRush Amidst MANTA’s Declining Fortunes

Managing $ 9 Trillion, BlackRock Made a Statement About Bitcoin: “There May Be Upside Potential”

Join our free newsletter for daily crypto updates!