Bitcoin Miners Under Pressure from US Government

EIA Demands Sensitive Data

The Energy Information Administration (EIA) has reportedly sent letters to Bitcoin miners in the United States, demanding sensitive data within ten days. Failure to comply could result in fines of over $10,000 per day.

Government Concerns

The EIA’s request stems from concerns about the environmental impact of Bitcoin mining. The government is seeking information on miners’ locations, energy consumption, and suppliers.

Industry Reaction

Dennis Porter, CEO of the Satoshi Action Fund, has criticized the EIA’s actions, arguing that it’s not the right way to engage with a promising industry. He highlights the potential benefits of Bitcoin mining, such as its ability to reshape energy management and stabilize the electric grid.

Satoshi Action Fund’s Response

The Satoshi Action Fund plans to fight back against the EIA’s demands. They are surveying miners to gather evidence of how Bitcoin mining helps stabilize the grid. The fund also released a paper in November 2023 showing how Bitcoin mining can capture methane, a harmful greenhouse gas.

Industry Support

Other industry leaders, such as Lee Bratcher and Perianne Boring, have condemned the EIA’s crackdown on Bitcoin mining. They argue that the government should focus on improving energy infrastructure rather than targeting private companies.