Key Points
- The US Energy Information Administration (EIA) has decided to discard all Bitcoin mining data collected from its emergency survey.
- The EIA is preparing for a new data collection notice, following a 60-day period for public feedback.
The US Energy Information Administration (EIA) has chosen to discard all information gathered from its emergency Bitcoin mining survey, as per recent court documents.
This decision, made in agreement with the Texas Blockchain Council, also applies to any future data received.
EIA’s Commitment to Confidentiality
The documents reveal the EIA’s pledge to “sequester and keep confidential” such data until it’s destroyed.
This effectively ends the temporary restraining order that was in place until March 8, which had halted the EIA’s data collection amid ongoing legal proceedings.
The EIA is now set to begin a 60-day period of inviting public feedback in preparation for a new notice on data collection.
This move shows the agency’s willingness to consider public input before moving forward with any new data collection efforts.
Lawsuit and Settlement
This recent decision follows a lawsuit filed in February by the Texas Blockchain Council and Riot Platforms.
They argued that the EIA’s mandatory survey was unauthorized data collection from the cryptocurrency industry, claiming it violated the Paperwork Reduction Act due to a lack of due process.
As part of the settlement, the EIA will reimburse the Texas Blockchain Council $2,199.45 for legal expenses incurred up to March 1, 2024.
Both parties have agreed not to seek further legal action and will request the court to dismiss the case.
Meanwhile, Riot Platforms and CleanSpark have announced significant expansions.
Riot Platforms has added 31,500 Bitcoin mining machines to its operations, and CleanSpark has finalized the acquisition of three new facilities.
These strategic moves aim to enhance operational efficiency in anticipation of the upcoming Bitcoin halving event.
This event is expected to halve the mining reward from 6.25 BTC to 3.125 BTC, potentially affecting the financial viability of mining operations.
Analysts from Galaxy Digital have suggested that the halving could lead to a significant decrease in the network hash rate for certain mining models, emphasizing the importance of strategic investments to remain competitive in the evolving market landscape.
