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👉👉👉 Emmer says emergency #Bitcoin‬ miner survey order was an abuse of power  House Majority Whip Tom Emmer, R-Minn., is pushing back against a recently approved emergency request aimed at collecting data from bitcoin mining operations in the United States. Last month, the Office of Management and Budget (OMB) gave the green light to the Energy Information Administration’s (EIA) request for emergency clearance to conduct a mandatory survey on the location and energy usage patterns of bitcoin mining operations across the country. In a letter to the OMB on Tuesday, Emmer expressed his deep concern regarding the OMB's use of emergency approval authority in this instance, stating that bitcoin miners do not pose a threat to public safety. According to the EIA, bitcoin mining accounted for between 0.2% and 0.9% of global electricity demand in 2023. In the US, the agency estimates that bitcoin mining represents between 0.6% and 2.3% of consumption. The EIA highlighted concerns about the additional electricity usage associated with #Bitcoinmining , including its impact on cost, reliability, and emissions. Identifying cryptocurrency mining activity among millions of US end-use customers and the dynamic nature of the crypto market pose challenges in tracking #cryptocurrency mining energy use, according to the agency. The EIA has identified 137 bitcoin mining facilities across 21 states, with the highest concentrations in Texas, Georgia, and New York. These operations are required to respond to the agency with details related to their energy use. Emmer pointed out that the filing does not acknowledge crypto mining's unique ability to reduce load during peak hours or adverse weather conditions. Emmer seeks OMB clarification on emergency authorization for data collection and inquires about potential criminal charges against non-compliant companies. The EIA plans to collect data immediately and aims to release preliminary results by mid-year. Source - blockworks.co #CryptoNews #BinanceSquare

👉👉👉 Emmer says emergency #Bitcoin‬ miner survey order was an abuse of power 


House Majority Whip Tom Emmer, R-Minn., is pushing back against a recently approved emergency request aimed at collecting data from bitcoin mining operations in the United States.

Last month, the Office of Management and Budget (OMB) gave the green light to the Energy Information Administration’s (EIA) request for emergency clearance to conduct a mandatory survey on the location and energy usage patterns of bitcoin mining operations across the country.

In a letter to the OMB on Tuesday, Emmer expressed his deep concern regarding the OMB's use of emergency approval authority in this instance, stating that bitcoin miners do not pose a threat to public safety.

According to the EIA, bitcoin mining accounted for between 0.2% and 0.9% of global electricity demand in 2023. In the US, the agency estimates that bitcoin mining represents between 0.6% and 2.3% of consumption.

The EIA highlighted concerns about the additional electricity usage associated with #Bitcoinmining , including its impact on cost, reliability, and emissions.

Identifying cryptocurrency mining activity among millions of US end-use customers and the dynamic nature of the crypto market pose challenges in tracking #cryptocurrency mining energy use, according to the agency.

The EIA has identified 137 bitcoin mining facilities across 21 states, with the highest concentrations in Texas, Georgia, and New York. These operations are required to respond to the agency with details related to their energy use.

Emmer pointed out that the filing does not acknowledge crypto mining's unique ability to reduce load during peak hours or adverse weather conditions.


Emmer seeks OMB clarification on emergency authorization for data collection and inquires about potential criminal charges against non-compliant companies. The EIA plans to collect data immediately and aims to release preliminary results by mid-year.

Source - blockworks.co


#CryptoNews #BinanceSquare

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👉👉👉 U.S. CPI Was Flat in May, Beating Expectations; #bitcoin Rises to $69.2K The U.S. Consumer Price Index (CPI) remained unchanged in May, outperforming economist expectations of a 0.1% increase & down from April's 0.3% rise. On a year-over-year basis, #cpi increased by 3.3%, slightly below the anticipated 3.4% and last month's reading of 3.4%. The core CPI, which excludes food & energy costs, rose 0.2% in May, also beating forecasts of a 0.3% increase and compared to April's 0.3% rise. Year-over-year, core CPI increased by 3.4%, against expectations of 3.5% and April's 3.6%. Bitcoin (BTC) responded positively to the lower-than-expected inflation data, jumping to $69,400, up nearly 4% over the past 24 hours. After significant declines in inflation during 2022 and 2023 as the Federal Reserve raised interest rates, the trend has stalled in recent months, remaining above the policymakers' 2% target. This has dampened market participants' expectations of imminent rate cuts. Earlier this year, traders anticipated five or six 25 basis points (bps) rate cuts in 2024 by the end of December. However, this expectation shrank to one or two cuts before today's CPI report, with the first cut not expected until September, according to the CME FedWatch Tool. Crypto prices have been "highly sensitive" to U.S. economic data recently, noted K33 Research in a report earlier this week. Recent higher inflation figures and reduced hopes for rate cuts led to Bitcoin's decline from all-time high prices above $73,000 in March to below $57,000 in May. Traders anticipate that looser monetary conditions will fuel the next leg of the crypto rally to record prices. Several major central banks, including the European Central Bank and the Bank of Canada, have recently lowered benchmark rates, causing the U.S. dollar index (DXY) to reach a one-month high. Investors are now awaiting the Federal Reserve's "dot plot" release, which will reveal interest rate projections from Federal Market Open Committee members and could significantly impact asset prices. Source - coindesk.com 
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💥💥💥 #CryptoExpert Reveals Top 7 AI Tokens For Massive 100x Growth – Don’t Miss Out! The fusion of artificial intelligence (AI) and #Blockchain technology is gaining traction, prompting the launch of new tokens and listings on major exchanges like Binance. Analysts, known as "Crypto Symbiote," predict significant price surges for 10 AI-related tokens, with potential gains of 10x to 100x. They identified these top tokens after evaluating around 500 similar projects. AI-Related Tokens Poised for Major Growth: 1. Omni Network ($OMNI ): - An Ethereum-native protocol enabling rapid communication between Ethereum rollups. - Current price: $15 - Market cap: $163 million 2. Numerai ($NMR ): - A data science competition platform for predicting the stock market using machine learning models. - Current price: $24 - Market cap: $168 million 3. SSV Network ($SSV ): - A decentralized Ethereum staking network using Secret Shared Validator (SSV) technology for non-custodial staking. - Current price: $36 - Market cap: $278 million From Crypto Web3 Domains to AI Monetization: 4. Space ID Protocol (#ID ): - A universal name service network for web3 domains, offering a multi-chain name service and development tools. - Current price: $0.6 - Market cap: $279 million 5. Golem Project (#GLM ): - A decentralized platform for sharing and accessing computational resources. - Current price: $0.44 - Market cap: $445 million 6. AltLayer (ALT): - A decentralized protocol enhancing the security, decentralization, and interoperability of rollups. - Current price: $0.29 - Market cap: $449 million 7. NFPrompt (#NFP ): - A Web3 tool for monetizing AI-generated content through verifiable ownership of AI art. - Current price: $0.43 - Market cap: $110 million Conclusion: These AI tokens are believed to have substantial growth potential due to their innovative technology, potential for widespread adoption, and current undervaluation. However, investors should conduct thorough research and exercise caution when investing. Source - newsbtc.com
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