The Sierra Club says there is an ‘urgent need’ for accurate insight into energy use by cryptocurrency mining companies to support federal investigations.
The Sierra Club told the court that accurate insight into the impact of cryptocurrency miners on electricity demand is urgently needed, both under everyday conditions and during very high demand situations.
The Texas Blockchain Council and Riot Platforms said the survey It is the product of “sloppy government procedures” and could leave mining companies “irreparably harmed by being forced to disclose confidential, sensitive and proprietary information.” A hearing to discuss a preliminary injunction was scheduled for Wednesday, but was canceled, according to court documents.
“In Texas and across the country, their operations are driving up energy prices and threatening electric grid reliability,” Bender said. name On Wednesday. “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.”
commencement of litigation
The Department of Energy was later sued. Energy Information Administration (EIA) — the department’s statistical and analytical agency — presentation Earlier this month, it said it would launch an investigation into the cryptocurrency mining company under “urgent data collection,” citing the rise in Bitcoin prices over the past few months as evidence for its urgent request.
In response to the judge’s order to halt the investigation, the EIA said it would not impose fines, penalties or other consequences on companies that did not respond to the investigation by March 22.
“Delaying EIA’s access to this information for several months will not only affect the ability of grid operators to ensure electricity reliability for residences and businesses, but also affect the ability of grid operators and federal and state regulators to comply with current market rules caused by cryptocurrency mining.” You won’t have the information you need to prevent abuse. “Companies will collectively bill tens of millions of dollars from individual taxpayers to prevent grid outages,” the Sierra Club said. short.
The Sierra Club said preventing EIA from collecting data for months would increase the risk of power outages during extreme weather events.
“Because electric reliability can be a matter of life and death and skewed demand can have a major impact on the finances of residential and small business customers, it is important for grid operators, utilities, federal and state regulators, and the public to quickly gain a better understanding. What matters is the impact cryptocurrency facilities have on the system,” the organization said in a briefing.
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