Summary
TLDR: The U.S. Energy Information Administration retracted its emergency survey on the energy use of Bitcoin mining companies due to legal pressure from the industry. The survey would have required mining firms to submit data on electricity consumption, but the industry argued it was unnecessary. Studies have shown that Bitcoin mining is largely powered by sustainable energy sources.
Key Points
1. The emergency survey to gather information on the energy use of U.S. Bitcoin mining companies has been retracted due to legal pressure from the industry.
2. The Texas Blockchain Council and Riot Platforms sought a temporary restraining order against the U.S. Energy Information Administration (EIA) for “administrative overreach” in implementing the planned survey.
3. The EIA confirmed the discontinuation of its emergency survey plans, stating that they will have to follow standard notice and comment processes before considering similar requests in the future.