Biden

Bitcoin

In a recent legal development, a coalition of Bitcoin miners has initiated legal proceedings against the Biden administration, challenging its insistence on obtaining energy consumption data from the industry. The lawsuit, filed by the Texas Blockchain Council and mining company Riot Platforms in a Texas federal court, seeks to halt the mandatory survey launched by the U.S. Department of Energy earlier this month.
The crux of the miners’ argument revolves around the potential harm to their businesses due to the disclosure of confidential and sensitive information. The Energy Information Administration’s (EIA) survey specifically targets cryptocurrency mining’s evolving power demand, aiming to pinpoint regions experiencing concentrated mining growth and the electricity sources utilized.
According to the plaintiffs, Bitcoin mines contribute to grid reliability by their capacity for swift shutdowns, thereby negating concerns about their impact on energy demand during extreme weather conditions. The lawsuit underscores the contention that the EIA failed to provide adequate public notice before initiating the survey, demanding a permanent injunction to prevent further data requests until proper legal procedures are followed. The miners characterize the situation as a matter of “sloppy government process, contrived and self-inflicted urgency, and invasive government data collection.”
As of now, both the EIA and the Biden administration have not issued any official comments in response to the legal action taken by the Bitcoin miners and their trade group. This lawsuit adds a new layer of complexity to the ongoing debate surrounding the intersection of cryptocurrency mining, environmental concerns, and governmental oversight.

Bitcoin Miners Challenge Biden Administration in Legal Battle Over Energy Data Disclosure

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