Power Play: U.S. Government Sparks Controversy with Emergency Survey on Bitcoin Mining's Energy Surge

The U.S. Energy Information Administration (EIA), under the Department of Energy, is conducting a six-month survey on the electricity use of selected Bitcoin mining operations in the U.S., starting from February 2024. This survey, labelled as an "emergency data collection," is in response to concerns about the energy-intensive nature of cryptocurrency mining and its impact on the electric grid, electricity prices, and CO2 emissions. The EIA aims to gather detailed data on the energy consumption, location, and equipment used in these mining operations, covering approximately 82 firms operating around 150 facilities. This initiative is seen as a step towards understanding the energy implications of cryptocurrency mining in the U.S. and could potentially influence future policies related to the industry. The survey's necessity is partly attributed to the rapid rise in Bitcoin's value, which could incentivize increased mining activities and, consequently, higher electricity consumption​​​​​​​​​​.