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The Biden administration is concerned that with the rise in Bitcoin prices, more Bitcoin miners may come online, thus putting greater pressure on the power grid. The Biden administration has issued new reporting requirements for all U.S. cryptocurrency miners, demanding disclosure of data related to their electricity consumption. The Energy Information Administration (EIA) will begin an investigation next week, asking mining companies how many mining facilities they own, where they operate, and whether they use Proof of Work (POW) or Proof of Stake (POS) consensus mechanisms with cryptocurrencies.
Joe DeCarolis, the director of the EIA, stated in a release that they will pay particular attention to how the energy demand of cryptocurrency mining evolves, identify high-growth geographic areas, and quantify the sources of electricity used to meet cryptocurrency mining demand. Miners must submit data monthly, or they may face "criminal fines, civil penalties, and other sanctions."
According to official documents from the environmental impact assessment, the investigation request requires urgent handling because following normal clearance procedures could likely cause public harm. |
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Post time 16-2-2024 21:29:32
