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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.

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