US Department of Energy Seeks Industry Feedback on Crypto Mining Energy Usage Survey

US Department of Energy Seeks Industry Feedback on Crypto Mining Energy Usage Survey

The US Department of Energy (DOE) is making another attempt to survey the energy usage of crypto mining firms after the first effort was halted by a lawsuit. On Wednesday, the Energy Information Administration (EIA), the DOE’s statistics division, held a public webinar to gather input from industry stakeholders, including crypto miners and other interested parties.

Public Webinar to Shape New Survey

Steve Harvey of the EIA led the discussion, aiming to use the feedback to refine the upcoming survey before the rule-making proposal is published in the Federal Registry. This move follows the DOE’s February attempt to collect emergency data from crypto mining companies, justified by Bitcoin’s 50% price surge in recent months.

However, the Texas Blockchain Council and Riot Platforms, a bitcoin mining company, sued the DOE in March, accusing it of “targeted misuse of government emergency authority.” The lawsuit resulted in an agreement that forced the EIA to destroy the information it had collected.

Addressing Key Challenges and Gathering Useful Data

During the webinar, Harvey presented three primary objectives for the new survey, as reported by The Block. Firstly, the EIA seeks to understand the key factors industry players consider regarding energy use in Proof-of-Work (PoW) crypto mining. Secondly, the agency wants to determine what specific data it should collect from miners. Lastly, the EIA is exploring whether any existing information could replace the survey to reduce costs.

Harvey acknowledged the “key challenges” faced during the initial survey, including identifying market participants and the “dynamic nature” of the mining industry. He emphasized the importance of industry input to design a more effective survey.

Approval and Implementation

Once designed, the survey will require approval from the DOE before it can be implemented. The feedback from the webinar will play a crucial role in shaping a survey that accurately captures the energy usage of crypto mining operations, addressing both industry concerns and regulatory needs.

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