⚡US Energy Dept. Seeks Industry Inputs to Survey Crypto Mining Energy Usage ⚡
~The US Department of Energy (DOE) is once again attempting to survey crypto mining firms, after the first attempt was slapped by a lawsuit.
~The Energy Information Administration (EIA), the statistics arm of the DOE, on Wednesday, held a public webinar in the context. The meeting sought comments from the public, including crypto miners and industry players.
~The department, in February, forced an emergency collection of data request from crypto mining companies. The EIA noted Bitcoin’s 50% price increase over the last few months as reason for the emergency justification.
🔑Key Challenges in Tracking Crypto Mining Energy Usage 🔑
~Firstly, the EIA wants to address what important factors do industry players consider regarding energy use on PoW crypto mining. Secondly, the agency wants to know what data should it focus on to collect from miners. Finally, the EIA is looking if there are any existing information already available to replace the survey and cut costs.
~During the first survey, the EIA was aware of the “key challenges” in tracking crypto mining energy use, Harvey said. This includes difficulty of actually identifying market participants and the “dynamic nature” of the mining industry.
~The survey, once designed, would require approval from the DOE.