The emergency Bitcoin miner investigation has been halted after the parties agreed to end litigation.
A government survey to obtain data on electricity usage by cryptocurrency mining companies is on the table, according to court documents filed Friday.
The Department of Energy filed suit in a Texas court after the Energy Information Administration (a statistical and analytical agency within the Department of Energy). — presentation In February, it said it would launch an investigation into cryptocurrency mining companies following an “urgent data collection request.” The Texas Blockchain Council and Bitcoin mining company Riot Platforms filed a lawsuit against the Department of Energy last week. This investigation was the product of ‘sloppy government procedures.’
A notice filed Friday said the litigating parties have reached a settlement. As part of that agreement, EIA must “destroy all information” it has already received and withdraw the survey. EIA plans to publish a new notice about the survey to solicit public comments, according to the filing.
In an emailed statement to The Block, EIA said it hopes to work with cryptocurrency mining companies in the future.
“We hope to work with companies in the cryptocurrency mining industry to provide the American public with a clearer understanding of the energy use of cryptocurrency mining operations,” the EIA said. said.
The Texas Blockchain Council and Riot Platforms applauded the conclusion of the emergency investigation in a statement released Friday.
“The administration abused the government’s emergency powers to carry out the attack. It is a legitimate industry for political purposes,” TCE President Lee Bratcher said in a statement. “government If you ask for sensitive business information and promise to disclose it, you may be subject to criminal penalties. It is a threat to free enterprise everywhere. We are glad that we now have an enforceable order preventing this. “Don’t do that.”
Cryptocurrency wins
The Chamber of Digital Commerce called Friday’s agreement a “monumental victory” for cryptocurrency mining.
“Today marks an important victory for the U.S. Energy Information Administration (EIA) in the cryptocurrency mining space. Withdrawn “This is an urgent investigation targeting cryptocurrency miners,” the group said. name.
Majority Whip Tom Emmer, R-Minn. Before The news was also cheered by a letter sent to the Office of Management and Budget over concerns about OMB’s use of emergency authorization powers.
“OMB cannot allow agencies like the EIA to abuse its ‘emergency’ powers to make outrageous claims that Bitcoin miners pose a threat to public safety and impose new, untested rules and regulations on this industry.” said On Friday
Concerns about environmental damage
Sierra Club, One of the largest grassroots environmental organizations in the United States. contaminated An amicus brief in support of the Department of Energy on Wednesday.
Holly Bender, Sierra Club’s chief energy officer, said in a statement that she compared the energy usage of cryptocurrency mining to the energy usage needed to light every home in the United States, which is more than 7 million cars. He said it creates a lot of pollution. Bender also cited the severe winter and ice storms that hit Texas in February 2021, highlighting the potential impact of high energy consumption during extreme weather events.
“In Texas and across the country, their operations are driving up energy prices and threatening electric grid reliability,” Bender said. name. “Following the devastating effects of Winter Storm Uri, which killed hundreds of people in Texas due to power outages, crypto miners in Texas are making a groundbreaking effort to collect vital data energy regulators need to ensure reliable and affordable power. “It is especially reprehensible to interfere with this.”
Updated at 4:55 PM ET to include statements from EIA and TBC.
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