US Government Announces New Probe Into Cryptocurrency Mining Operations in the United States

The U.S. Energy Information Administration (EIA) is announcing that it will be carefully examining crypto mining operations in the country.

In a recent press release, the EIA, a statistical and analytical agency within the U.S. Department of Energy, says that it wants to keep track of how much electricity is being used by US firms that mine digital assets.

The EIA also says it will be asking the public for its opinion on the energy data it collects from the companies.

“The U.S. Energy Information Administration is initiating a provisional survey of electricity consumption information from identified cryptocurrency mining companies operating in the United States.

Beginning [this] week, EIA will survey identified commercial cryptocurrency miners, which are required to respond with details related to their energy use... EIA will also be soliciting public comment on the collection of cryptocurrency miners’ energy use data.”

According to Joe DeCarolis, the EIA’s Administrator, the agency is looking to find out more about the energy ramifications of mining virtual currencies within the US.

As stated by DeCarolis in the press release,

“We intend to continue to analyze and write about the energy implications of cryptocurrency mining activities in the United States.

We will specifically focus on how the energy demand for cryptocurrency mining is evolving, identify geographic areas of high growth, and quantify the sources of electricity used to meet cryptocurrency mining demand.”

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