Two prominent blockchain industry groups have vehemently criticized the U.S. Energy Department’s recent directive for crypto mining operators to submit detailed electricity consumption data.
Labeling the mandate as a “politically motivated campaign,” the Texas Blockchain Council and the Chamber of Digital Commerce argue that this move unfairly targets the Bitcoin mining sector and could have broader implications for industries dependent on data centers.
Industry Leaders Decry EIA’s Data Collection Directive
Lee Bratcher, President of the Texas Blockchain Council, and Perianne Boring, CEO of the Chamber of Digital Commerce, issued a joint statement condemning the U.S. Energy Information Administration’s (EIA) new requirement for emergency electricity consumption data collection from crypto miners.
They assert that the initiative is part of a broader effort to stifle innovation within the United States’ cryptocurrency and Bitcoin mining sectors.
Claims of Political Motivation and Abuse of Authority
The industry leaders further accused the EIA of exceeding its authority, suggesting that the agency’s actions are intended to undermine U.S. Bitcoin miners in alignment with the Biden administration’s objectives.
This critique comes in the wake of a White House report that the groups perceive as an unjustified attempt to curtail domestic mining operations under the guise of electrical infrastructure concerns.
Bitcoin Miners as Flexible Energy Consumers
In defense of Bitcoin miners, the statement highlighted their capacity to swiftly adapt energy consumption based on the state of the electrical grid, describing mining operations as among the most dynamically manageable electrical loads in the country.
This adaptability, the groups argue, is being overlooked in the administration’s push against the mining industry.
Industry’s Outlook on Government Actions
The blockchain industry representatives view the EIA’s mandate not just as an encroachment on Bitcoin mining but as an attack on legitimate American businesses.
They believe that the Biden administration is deliberately making it difficult for Bitcoin miners to operate within the United States, thereby threatening the country’s position as a leader in cryptocurrency innovation.
