In response to a lawsuit, the U.S. Energy Information Administration (EIA) has stopped gathering emergency statistics on the amount of energy used in bitcoin mining.
The EIA initiated the survey in January, forcing mining companies to submit information on their energy use and threatening fines for noncompliance. The Texas Blockchain Council and Riot Platforms filed a complaint, claiming that the EIA lacks the power to collect so broad data.
The EIA stated on Friday that the survey would be halted and any previously obtained data destroyed. According to a court filing, the decision was made after the parties involved in the action reached an agreement. Before considering any future similar requests, the EIA will use conventional public comment procedures.
Opponents claimed the EIA poll sought intrusive private data that could permanently harm mining companies. It occurred amid rising tensions between regulators and cryptocurrencycurrency over the usage of electricity in mining.
The Biden administration had requested EIA data gathering to investigate Bitcoin’s electricity consumption. With cryptocurrencycurrency’s environmental impact under review, the sector viewed the pre-election timing as political.
Winning over cryptocurrency voters, who number 52 million Americans, could be important in 2024. The halting of the EIA survey signals that the future administration may be more friendly to the bitcoin business.
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