The U.S. Energy Information Administration (EIA) is launching a survey to gather data on the electricity consumption of cryptocurrency mining companies in the country. Set to commence next week, the survey targets “identified” commercial miners, requiring them to provide detailed information regarding their energy usage. Authorized by the Office of Management and Budget (OMB) on January 26 as an emergency data collection request, the move aims to analyze and report on the energy implications of cryptocurrency mining activities in the United States.
EIA Administrator Joe DeCarolis stated, “We intend to continue to analyze and write about the energy implications of cryptocurrency mining activities in the United States. We will specifically focus on how the energy demand for cryptocurrency mining is evolving, identify geographic areas of high growth, and quantify the sources of electricity used to meet cryptocurrency mining demand.”
However, the announcement has sparked concern and criticism within the mining community, with some urging miners to boycott the survey. Bitcoin advocate and Catherdra Bitcoin mining firm director Marty Bent expressed reservations about the EIA’s attempt to create an overly detailed registry of mining operations in the U.S. While some initially saw the survey as potentially beneficial, concerns arose as it requires highly granular data, including specific information about mining fleets and hash rate data.
Cryptocurrency mining energy consumption has been a contentious issue between the industry and regulators, with lawmakers calling for transparency in energy consumption data. Last year, Democratic lawmakers, led by Sen. Elizabeth Warren, urged government agencies to compel crypto miners to disclose their energy consumption. The EIA’s mandatory survey has raised alarms in the mining community due to potential legal consequences, including daily fines for non-compliance, prompting calls for immediate legal action.
