You can check the website statistics yourself or request them from us at [email protected]
On this platform, only organic high-quality traffic
Bitcoin
$ 30,725

Blockchain Industry Groups Call EIA’s Moves on Bitcoin Mining as ‘politically Motivated’

Two associations within the blockchain sector have denounced the US Energy Department’s compulsory data gathering from cryptocurrency mining entities as a “politically driven initiative.” Lee Bratcher, president of the Texas Blockchain Council, and Perianne Boring, CEO of the Chamber of Digital Commerce, jointly issued a statement on behalf of the industry on Tuesday. In their statement, they argued that this action would have ramifications for all sectors reliant on data centers.

According to the released statement, Bratcher and Boring asserted, “The EIA’s mandatory emergency survey of electricity consumption data represents the latest in a politically motivated campaign against Bitcoin mining, cryptocurrency, and U.S.-led innovation.”

This reaction follows the announcement by the US Energy Information Administration (EIA) regarding the gathering of electricity consumption data specifically from identified crypto miners. The objective of this initiative, stated the US agency earlier this month, is to “enhance understanding of the energy requirements” of crypto mining operations based in the US.

EIA’s ‘Abuse of Authority’ to Limit Mining Operations

Moreover, the associations contended that the recent White House report “constitutes an abuse of authority” instead of fostering improvements in electricity infrastructure. The decision, labeled as “unprecedented,” has been portrayed as an attempt to politicize private enterprises rather than addressing genuine infrastructure concerns, as outlined in the statement.

“This action represents an overreach of authority aimed at advancing the Biden administration’s stated objective of restricting or eradicating U.S.-based Bitcoin miners.”

In response to these assertions, the EIA informed Bloomberg that the Departments have been conducting “numerous surveys” in collaboration with energy producers.

“We remain optimistic about our ability to collaborate with companies in the cryptocurrency sector to offer the American public a transparent understanding of energy consumption.”

Additionally, the associations underscored the Bitcoin miners’ capacity to swiftly adjust their data centers’ power usage in alignment with grid conditions. “Their operations exhibit the most adaptable and responsive electrical loads nationwide,” stated the release.

Furthermore, the associations labeled the move as an “assault on legitimate American enterprises.” They added that the Biden Administration is imposing excessively burdensome conditions on Bitcoin miners operating within the United States.

Related Posts

Leave a Reply

Confirm now and stay with our news

What we write about

I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

Latest Articles

Coinbase Unveils Two New Wallet Solutions Aimed at Easing Crypto Onboarding
01.03.2024By
Worldcoin Developer Acquires Solana-Based Digital Wallet Ottr
01.03.2024By
Web3 Lost Over $200 Million to Hackers in Two Months of 2024, More to Come – Immunefi
01.03.2024By

Latest news

Coinbase Unveils Two New Wallet Solutions Aimed at Easing Crypto Onboarding
01.03.2024
Worldcoin Developer Acquires Solana-Based Digital Wallet Ottr
01.03.2024
Web3 Lost Over $200 Million to Hackers in Two Months of 2024, More to Come – Immunefi
01.03.2024
Musée d’Orsay Breaks New Ground with On-Chain Exhibition and NFT Auction
01.03.2024
Crypto Lender Ledn Now Offers ETH-Backed Loans to Meet Growing Demand
01.03.2024
BlackRock to Launch Brazil’s First Bitcoin ETF on March 1
01.03.2024
Traditional Banking Titans Bank of America and Wells Fargo Look to Offer Bitcoin ETF Access
01.03.2024
Telegram to Launch Advertising Platform Using TON Blockchain
29.02.2024
3 Crypto Experts Predict This New Coin Might 50x In March
29.02.2024
Expert Take: Rising DeFi TVL is Silencing the Doubters
29.02.2024