Texas Blockchain Council And Riot Filed A Lawsuit Against Biden Administration
Key Points:
- Texas Blockchain Council and Riot Platforms sue EIA over data collection on crypto miner energy use.
- The lawsuit alleges political motives and regulatory overreach in gathering proprietary information.
- Department of Energy temporarily halts survey amid broader debates on crypto mining’s energy impact.
The Texas Blockchain Council and Riot Platforms, a mining firm, have jointly filed a lawsuit against the Energy Information Administration (EIA) over what they deem as an invasive attempt to collect data on energy usage from cryptocurrency miners.
Texas Blockchain Council and Riot Platforms Challenge EIA’s Data Collection
Filed in the United States District Court for the Western District of Texas on February 22, the lawsuit alleges that the EIA, along with the U.S. Department of Energy and the Office of Management and Budget, sought intrusive information from mining companies under the threat of fines and penalties.
According to the Texas Blockchain Council and Riot Platforms, the data collection is politically motivated and constitutes regulatory overreach. They argue that sharing proprietary information with the government, potentially for public disclosure, sets a dangerous precedent. The groups accuse Senator Elizabeth Warren and the White House of orchestrating the EIA’s actions.
DOE Suspends Survey Amid Controversy Surrounding Crypto Mining’s Energy Impact
In response to the lawsuit, the Department of Energy (DOE) has agreed to temporarily suspend its emergency survey of energy use by cryptocurrency miners, Reuters reported. The survey, initiated on February 5, aimed to assess concerns about the impact of increased electricity consumption by miners on energy grid reliability. However, critics argue that the urgency of the data collection is unfounded and could be used for politically motivated attacks on the crypto industry.
While the government’s decision to halt the survey temporarily is seen as a positive step by the plaintiffs, they maintain that it does not fully address their concerns.
Texas, known as a hub for Bitcoin mining, houses numerous mining operations, including those of Riot Platforms and members of the Texas Blockchain Council. The lawsuit underscores broader debates surrounding the regulation of cryptocurrency mining activities and their potential effects on energy consumption and grid reliability.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Texas Blockchain Council And Riot Filed A Lawsuit Against Biden Administration
Key Points:
- Texas Blockchain Council and Riot Platforms sue EIA over data collection on crypto miner energy use.
- The lawsuit alleges political motives and regulatory overreach in gathering proprietary information.
- Department of Energy temporarily halts survey amid broader debates on crypto mining’s energy impact.
The Texas Blockchain Council and Riot Platforms, a mining firm, have jointly filed a lawsuit against the Energy Information Administration (EIA) over what they deem as an invasive attempt to collect data on energy usage from cryptocurrency miners.
Texas Blockchain Council and Riot Platforms Challenge EIA’s Data Collection
Filed in the United States District Court for the Western District of Texas on February 22, the lawsuit alleges that the EIA, along with the U.S. Department of Energy and the Office of Management and Budget, sought intrusive information from mining companies under the threat of fines and penalties.
According to the Texas Blockchain Council and Riot Platforms, the data collection is politically motivated and constitutes regulatory overreach. They argue that sharing proprietary information with the government, potentially for public disclosure, sets a dangerous precedent. The groups accuse Senator Elizabeth Warren and the White House of orchestrating the EIA’s actions.
DOE Suspends Survey Amid Controversy Surrounding Crypto Mining’s Energy Impact
In response to the lawsuit, the Department of Energy (DOE) has agreed to temporarily suspend its emergency survey of energy use by cryptocurrency miners, Reuters reported. The survey, initiated on February 5, aimed to assess concerns about the impact of increased electricity consumption by miners on energy grid reliability. However, critics argue that the urgency of the data collection is unfounded and could be used for politically motivated attacks on the crypto industry.
While the government’s decision to halt the survey temporarily is seen as a positive step by the plaintiffs, they maintain that it does not fully address their concerns.
Texas, known as a hub for Bitcoin mining, houses numerous mining operations, including those of Riot Platforms and members of the Texas Blockchain Council. The lawsuit underscores broader debates surrounding the regulation of cryptocurrency mining activities and their potential effects on energy consumption and grid reliability.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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