US Energy Department's Mandatory Survey for Bitcoin Miners Faces Criticism

According to Bloomberg, the US Energy Department's new mandatory survey for Bitcoin miners has been criticized as an abuse of authority by the Biden administration. Two groups, including the Texas Blockchain Council, argue that the Energy Information Administration's (EIA) emergency action is a federal overreach with implications for all industries relying on data centers for their operations. In response, the EIA stated that they conduct numerous surveys with energy producers and consumers and hope to work with cryptocurrency companies to provide a clear understanding of energy use. Bitcoin mining requires significant energy consumption, raising concerns among policymakers and electric grid planners about the strain on US grids and energy-related carbon dioxide emissions. However, miners argue that they help reduce grid stress by turning off and freeing up power for others to use during critical times.