U.S. Energy Agency Tightens Grip on Cryptocurrency Miners’ Energy Data

    The U.S. Energy Information Administration tightens its grip on cryptocurrency miners, mandating detailed energy data submission by February 23. Non-compliance risks legal consequences, sparking dissent within the mining community.

    • EIA Oversight: The U.S. Energy Information Administration (EIA) intensifies scrutiny on cryptocurrency miners, demanding detailed energy consumption data.
    • Deadline Looms: Cryptocurrency miners instructed to submit EIA-862 Cryptocurrency Mining Facilities Report by February 23, revealing specifics on electricity usage, facility identification, and equipment characteristics.
    • Legal Consequences: Failure to comply with the mandate may lead to criminal fines, civil penalties, and other sanctions as outlined by law.

    Cryptocurrency Miners Under Heightened Surveillance

    In a significant development, the U.S. Energy Information Administration (EIA) has initiated a comprehensive review of cryptocurrency miners’ operations. Letters sent to miners, as disclosed by Dennis Porter, CEO of Satoshi Action Fund, mandate the submission of crucial data on energy consumption and mining infrastructure.

    EIA-862 Report: A Closer Look

    Cryptocurrency miners are obligated to complete the EIA-862 Cryptocurrency Mining Facilities Report. This questionnaire delves into key aspects, including the identification of mining companies, electricity consumption at each facility, and details about energy providers. Additionally, miners must disclose information on their equipment, covering aspects like age, electric load, and hash rate produced.

    Impending Deadline and Dissent

    Miners face a strict deadline, with the data required to reach the EIA before February 23. Non-compliance carries serious repercussions, including criminal fines and civil penalties. Despite gaining clearance from the Office of Management and Budget in January, this move has sparked dissent within the cryptocurrency mining community.

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