US to launch survey on cryptocurrency miners’ energy consumption

The United States, done the Energy Information Administration (EIA), volition commencement collecting information astir cryptocurrency miners’ vigor depletion complaint wrong the federation starting adjacent week.

On Jan. 31, the EIA revealed its volition to initiate a provisional survey targeting commercialized cryptocurrency miners. This survey was authorized by the Office of Management and Budget (OMB) arsenic an exigency information postulation request, signifying the urgency of obtaining this information.

To get the approval, EIA wrote that Bitcoin terms increases person incentivized much crypto mining activity, expanding energy consumption.

“The combined effects of accrued cryptomining and stressed energy systems make heightened uncertainty successful electrical powerfulness markets, which could effect successful request peaks that impact strategy operations and user prices,” EIA claimed.

In tandem with the survey, the EIA volition actively question nationalist input connected the vigor usage information postulation process from the cryptocurrency mining sector.

EIA Administrator Joe DeCarolis emphasized that the survey aims to shed airy connected the broader implications of cryptocurrency mining activities successful the United States.

Furthermore, DeCarolis outlined the EIA’s absorption connected knowing however the vigor request associated with cryptocurrency mining is evolving. The bureau aims to pinpoint geographical areas experiencing important maturation successful this assemblage and quantify the energy sources fueling this demand.

Crypto mining successful the U.S.

Mining activities person attracted important attention from regulators and lawmakers alike for their electricity-sapping operations and interaction connected powerfulness grids and c emissions.

Over the past years, the U.S. has emerged arsenic a large mining hub pursuing China’s prohibition connected specified operations successful 2021. The Cambridge Centre for Alternative Finance (CCAF) data showed that the state contributed an mean monthly hashrate stock of much than 37% arsenic of January 2022.

Notably, skeptics point to the apical cryptocurrency vigor usage’s antagonistic interaction connected the situation arsenic a instrumentality against mining activities. However, manufacture experts person suggested that BTC mining activities tin actively lend to the stableness and ratio of powerfulness systems.

The station US to motorboat survey connected cryptocurrency miners’ vigor consumption appeared archetypal connected CryptoSlate.