U.S. agency halts emergency miner probe approved by Biden after lawsuit
The Energy Information Administration (EIA) suspended its investigation into a controversial cryptocurrency mining company on February 23 following a lawsuit from members of the cryptocurrency mining industry.
Cryptocurrency mining company Riot Platforms and the Texas Blockchain Council began the lawsuit on February 22. The case names EIA, the Department of Energy, the Office of Management and Budget (OMB), and the heads of those agencies as defendants.
EIA confirmed that the survey had been temporarily suspended. name:
“EIA will not enforce the requirement to file Form EIA-862 and will not pursue or impose fines, penalties, or other adverse consequences based on failure to respond to the survey by March 22, 2024.”
The agency will also quarantine all data collected under the current notification and refrain from using it until the same becomes available.
The entry in the case list likewise confirms the suspension of the investigation, noting that EIA “will be notified that the investigation will be suspended for a further (4) weeks.”
Data collection issues
Republican Rep. Tom Emmer recently raised concerns about data collection by cryptocurrency mining companies in a February 22 letter.
He argued that by demonstrating that mining is likely to cause harm to the public, OMB can only approve EIA’s information collection request without a comment period. He added:
“Bitcoin mining does not pose a threat to public safety. period.”
Riot and the Texas Blockchain Council’s lawsuit makes similar claims. One part of the complaint states that the emergency authorizations and public harm estimates are “on their face absurd.”
This investigation was closely linked to the Biden administration and the Democratic Party. One section of the lawsuit explicitly acknowledges this, noting that Biden Whitehouse’s September 2022 statement specifically proposed targeting mining companies through energy restrictive measures and legislation.
EIA is concerned that Bitcoin mining could lead to increased energy consumption during periods of high energy demand, including during cold weather.
The office originally aimed to collect data from 82 cryptocurrency mining companies, and companies that fail to comply could face daily fines of $10,000 until the investigation period ends in July.
