US Government Launches Investigation into Cryptocurrency Mining Activities in the Country

The US Energy Information Administration (EIA) has declared that it will be thoroughly investigating cryptocurrency mining activities within the nation.

In a recent announcement, the EIA, which operates as a statistical and analytical body under the U.S. Department of Energy, indicated its intention to monitor the electricity consumption of American companies engaged in digital asset mining.

The EIA also mentioned that it will seek public feedback regarding the energy data it gathers from these firms.

“The U.S. Energy Information Administration is launching a temporary survey to collect electricity consumption data from designated cryptocurrency mining companies operating in the United States.

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Starting [this] week, the EIA will survey selected commercial cryptocurrency miners, who are obligated to provide information concerning their energy usage… EIA will also be inviting public comments on the collection of energy use data from cryptocurrency miners.”

As noted by Joe DeCarolis, the EIA’s Administrator, the agency aims to gain further insights into the energy impacts of virtual currency mining in the US.

According to DeCarolis in the press release,

“We plan to persist in analyzing and reporting on the energy consequences of cryptocurrency mining operations in the United States.

Our focus will be on how the energy requirements for cryptocurrency mining are changing, pinpointing regions of significant growth, and assessing the electricity sources utilized to satisfy cryptocurrency mining needs.”

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