Dennis Porter, the CEO of a non-profit organization called Satoshi Action Fund, has raised concerns within the crypto community about Bitcoin miners in the United States receiving pressure from the Energy Information Administration (EIA). The EIA has reportedly sent letters to these miners demanding sensitive data.
EIA Wants Bitcoin Miners To Submit Sensitive Data
According to a post on February 14, Porter has claimed that the EIA is now requiring Bitcoin and crypto miners to comply with their directive within ten days or face heavy fines exceeding $10,000 per day. The exact number of miners who have received these demand letters was not clear at the time of the post.
This action comes amid concerns from the United States government regarding the potential environmental impact of Bitcoin mining. The EIA, in collaboration with the federal government and citing emergency powers, is seeking data on miners’ locations, energy consumption, and suppliers.
Porter strongly criticized the EIA’s actions, stating that this new directive does not align with how the United States government should engage with a new and promising industry. He also emphasized the innovative potential of Bitcoin and crypto mining, suggesting that the practice could reshape energy management, production, and power transmission in the United States.
NGO CEO To Fight Back, Claims Mining Can Stabilize Electric Grid
Disagreeing with the EIA’s directive, Porter mentioned that Bitcoin miners in the country are eager to collaborate. He believes that given the chance, miners can demonstrate how the technology has positively influenced the electric grid and its potential impact on the economy and the environment.
In November 2023, the Satoshi Action Fund, in partnership with Brad Jones, the former CEO of the Electric Reliability Council of Texas (ERCOT), published a paper demonstrating how Bitcoin mining can effectively capture methane, a substance known to be harmful to the ozone layer.
The Satoshi Action Fund intends to resist the EIA’s demands, but specific details of their plan have not been disclosed. Prior to this, they are conducting a survey to understand how Bitcoin miners are contributing to the stabilization of the electric grid in the United States.
In early February, Lee Bratcher, the Texas Blockchain Council President, and Perianne Boring, the CEO of the Chamber of Digital Commerce, stated that the EIA should prioritize improving the outdated energy infrastructure instead of targeting private companies. They also criticized the crackdown on Bitcoin mining, describing it as a politically motivated move and an abuse of power.
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