Dennis Porter, the CEO of a non-profit, Satoshi Action Fund, has notified the crypto neighborhood that Bitcoin miners throughout the United States reportedly face stress from the Energy Information Administration (EIA) after being despatched letters requiring them to give up delicate information.
EIA Wants Bitcoin Miners To Submit Sensitive Data
In a publish on February 14, Porter claims that, in a brand new order, the EIA now desires Bitcoin and crypto miners to adjust to their directive inside ten days or face heavy fines exceeding $10,000 per day. When writing, and by the point Porter shared the publish, it was unclear what number of miners had acquired these demand letters.
However, this improvement is amid considerations from the United States authorities in regards to the potential environmental impression of Bitcoin mining. Porter now reveals that the EIA, performing in collaboration with the federal authorities and citing emergency powers, is searching for information on miners’ places, vitality consumption, and suppliers.
The activist strongly criticized the EIA’s actions, saying that this new directive will not be how the United States authorities “should interact with a new and promising industry.” Porter then highlights the revolutionary potential of Bitcoin and crypto mining typically. In earlier statements, crypto mining supporters have mentioned the apply would reshape vitality administration, manufacturing, and even how energy is transmitted within the United States; it’s a stance that the CEO additionally mentions.
NGO CEO To Fight Back, Claims Mining Can Stabilize Electric Grid
While rejecting the EIA’s directive, Porter mentioned Bitcoin miners within the nation are “eager to collaborate.” Given this opportunity, miners, the CEO continues, can present how the know-how has positively impacted the electrical grid and its potential impression on the economic system and atmosphere.
In November 2023, the Satoshi Action Fund, in partnership with Brad Jones, the previous CEO of the Electric Reliability Council of Texas (ERCOT), launched a paper displaying how Bitcoin mining is an efficient methane seize software. The impression of Methane on the ozone layer is effectively documented and proven to be dangerous.
So far, the Satoshi Action Fund plans to struggle again in opposition to the EIA’s calls for, however particulars stay undisclosed. However, earlier than this, they’re surveying to grasp how Bitcoin miners are serving to stabilize the electrical grid within the United States.
In early February, Lee Bratcher, the Texas Blockchain Council President, and Perianne Boring, the CEO of the Chamber of Digital Commerce, said the EIA ought to give attention to bettering the outdated vitality infrastructure as a substitute of focusing on non-public firms. They additionally criticized the crackdown on Bitcoin mining, calling it a politically motivated transfer and an abuse of energy.
Feature picture from Canva, chart from TradingView
