US Energy Information Administration (EIA) to Discard Bitcoin Mining Survey Data
The US Energy Information Administration (EIA) has reached an agreement to discard all data collected in response to its emergency Bitcoin mining survey. The agency has also committed to destroying any future data it receives as well. This agreement comes after the EIA faced a temporary restraining order that halted them from collecting data during a lawsuit filed by the Texas Blockchain Council.
Agreement with the Texas Blockchain Council
The EIA’s agreement with the Texas Blockchain Council effectively terminates the temporary restraining order that was in effect until March 8. This order prevented the US energy regulators from collecting data during the ongoing lawsuit. As part of the agreement:
- The EIA will sequester and keep confidential any information it has received or will receive in response to the emergency survey.
- The agency will destroy all collected data.
New Notice and Public Feedback Period
In addition, the EIA will initiate a 60-day period for public feedback as it prepares to issue a new notice proposing the collection of information to replace the previous survey. During this period, the agency will review any comments received in response to the notice.
Texas Blockchain Council Challenges EIA’s ‘Unlawful’ Bitcoin Mining Survey
In February, the Texas Blockchain Council (TBC) and cryptocurrency miner Riot Platforms filed a lawsuit against the EIA. They claimed that the agency’s mandatory survey for Bitcoin mining constituted illegal data gathering from the industry. The council argued that this action aligned with a larger strategy by Senator Elizabeth Warren and the Biden Administration, targeting the digital asset industry across all government agencies. They also described it as a direct attack on private enterprises disguised as an emergency measure.
EIA Agrees to Pay Legal Fees to Texas Blockchain Council
As part of the agreement, the EIA will pay the Texas Blockchain Council $2,199.45 for legal fees and costs incurred until March 1, 2024. Both parties have agreed not to seek further relief, and they will ask the court to suspend and close the case.
Hot Take: EIA Commits to Fresh Bitcoin Mining Study
The US Energy Information Administration’s decision to discard the previous Bitcoin mining survey data and conduct a fresh study marks an important development in the ongoing legal battle with the Texas Blockchain Council. This agreement demonstrates that government agencies must follow standard notice and comment processes before implementing similar requests in the future. It also highlights the growing tension between regulators and the cryptocurrency industry, with stakeholders like the Texas Blockchain Council actively challenging what they perceive as unlawful actions. As the EIA prepares for its new study, it remains to be seen how this legal dispute will shape the future of Bitcoin mining regulation in the United States.
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