Friday, May 23, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Riot Platforms and Texas Blockchain Council challenge EIA’s Bitcoin Mining data demands

February 24, 2024
in Regulations
Reading Time: 2 mins read
0 0
A A
0
Home Regulations
Share on FacebookShare on TwitterShare on E Mail


TBC and Riot Platforms sue EIA over Bitcoin knowledge calls for, alleging intrusion.
Senator Warren’s involvement is seen as a part of a broader political technique.
Bitcoin mining faces scrutiny for vitality consumption, environmental impression.

In a daring transfer in opposition to the US Vitality Data Administration (EIA), the Texas Blockchain Council (TBC) and crypto miner Riot Platforms have filed a lawsuit, alleging illegal knowledge assortment calls for focusing on the Bitcoin mining sector.

EIA’s knowledge assortment plan 

Final month, the EIA introduced plans to gather knowledge on electrical energy consumption by sure US-based crypto miners, efficient from early February. Business miners had been mandated to reveal intricate particulars, together with the sorts of machines used and the places of their mining operations. The controversial transfer adopted an emergency approval from the Workplace of Administration and Price range on January 26.

We’re initiating assortment of information relating to #electrical energy use by US #cryptocurrency miners.

We’ll ask about their electrical energy consumption so we are able to higher perceive their vitality calls for.

👉https://t.co/gYpZgtiD6J pic.twitter.com/pQ9ULoLAAU

— EIA (@EIAgov) January 31, 2024

TBC, a non-profit affiliation, expressed considerations over the delicate nature of the knowledge requested, fearing potential public disclosure. The council sees this as a direct assault on personal companies, characterizing it as a political manoeuvre beneath the guise of an emergency.

The TBC factors fingers at Senator Elizabeth Warren and the Biden administration, accusing them of orchestrating a focused effort in opposition to the digital asset trade. The EIA’s push for oversight is considered as an intrusion and a worrying escalation in monitoring and regulating the cryptocurrency sector.

As a part of a broader technique, Senator Warren and different Democratic lawmakers had beforehand urged main US crypto mining firms to reveal their vitality utilization. The present authorized motion represents a agency trade backlash in opposition to what’s perceived as elevated regulatory scrutiny.

Bitcoin Mining realities and environmental issues

The EIA, in a report dated February 1, highlighted a major soar in annual electrical energy consumption by crypto miners, from 0.6% to 2.3%. Regardless of the advantages of Bitcoin mining, reminiscent of community decentralization and revenue alternatives, the trade faces rising scrutiny as a result of its environmental impression.

The Rocky Mountain Institute estimates world Bitcoin mining consumes round 127 terawatt-hours yearly. This has sparked debates in regards to the environmental sustainability of the trade. Proponents argue that in comparison with conventional sectors like banking, Bitcoin’s vitality utilization is comparatively decrease, however critics stay involved about its contribution to world vitality consumption.

Because the authorized battle unfolds, the cryptocurrency trade finds itself on the crossroads of regulatory pressures and environmental accountability, navigating the fragile stability between innovation and accountability.

Share this articleCategoriesTags





Source link

Tags: BitcoinBlockchainChallengeCouncildataDemandsEIAsMiningPlatformsRiotTexas
Previous Post

Kraken challenges SEC lawsuit, alleges political retaliation

Next Post

Get Fit, Earn Crypto – Join the Move-to-Earn Revolution

Related Posts

UK confirms crypto tax data rules under CARF; first deadline set for May 2027
Regulations

UK confirms crypto tax data rules under CARF; first deadline set for May 2027

May 17, 2025
Coinbase faces SEC probe over historical user metrics: report
Regulations

Coinbase faces SEC probe over historical user metrics: report

May 19, 2025
Coinbase CEO bullish on stablecoin bill’s senate fate despite political headwinds
Regulations

Coinbase CEO bullish on stablecoin bill’s senate fate despite political headwinds

May 15, 2025
Crypto.com gets green light in Canada with restricted dealer registration
Regulations

Crypto.com gets green light in Canada with restricted dealer registration

May 13, 2025
Trump’s crypto ties derail bipartisan stablecoin push in senate
Regulations

Trump’s crypto ties derail bipartisan stablecoin push in senate

May 9, 2025
MOVE token plunges to all-time low after Coinbase delisting and market-making controversy
Regulations

MOVE token plunges to all-time low after Coinbase delisting and market-making controversy

May 3, 2025
Next Post
Get Fit, Earn Crypto – Join the Move-to-Earn Revolution

Get Fit, Earn Crypto - Join the Move-to-Earn Revolution

Reddit adds Bitcoin and Ethereum as retail interest in crypto fuels Bitbot’s presale

Reddit adds Bitcoin and Ethereum as retail interest in crypto fuels Bitbot's presale

After 153 days in $40k-$45k range, Bitcoin aims to close 6th ever monthly close above $50k

After 153 days in $40k-$45k range, Bitcoin aims to close 6th ever monthly close above $50k

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In