Dennis Porter, the CEO of a non-profit, Satoshi Motion Fund, has notified the crypto group that Bitcoin miners throughout the USA reportedly face stress from the Vitality Data Administration (EIA) after being despatched letters requiring them to give up delicate knowledge.
EIA Desires Bitcoin Miners To Submit Delicate Knowledge
In a publish on February 14, Porter claims that, in a brand new order, the EIA now needs Bitcoin and crypto miners to adjust to their directive inside ten days or face heavy fines exceeding $10,000 per day. When writing, and by the point Porter shared the publish, it was unclear what number of miners had obtained these demand letters.
Nonetheless, this improvement is amid considerations from the USA authorities in regards to the potential environmental impression of Bitcoin mining. Porter now reveals that the EIA, appearing in collaboration with the federal authorities and citing emergency powers, is looking for knowledge on miners’ areas, power consumption, and suppliers.
The activist strongly criticized the EIA’s actions, saying that this new directive will not be how the USA authorities “should interact with a new and promising industry.” Porter then highlights the modern potential of Bitcoin and crypto mining basically. In earlier statements, crypto mining supporters have mentioned the observe would reshape power administration, manufacturing, and even how energy is transmitted in the USA; it’s a stance that the CEO additionally mentions.
NGO CEO To Struggle Again, Claims Mining Can Stabilize Electrical Grid
Whereas rejecting the EIA’s directive, Porter mentioned Bitcoin miners within the nation are “eager to collaborate.” Given this opportunity, miners, the CEO continues, can present how the know-how has positively impacted the electrical grid and its potential impression on the economic system and surroundings.
In November 2023, the Satoshi Motion Fund, in partnership with Brad Jones, the previous CEO of the Electrical Reliability Council of Texas (ERCOT), launched a paper displaying how Bitcoin mining is an efficient methane seize software. The impression of Methane on the ozone layer is properly documented and proven to be dangerous.
To date, the Satoshi Motion Fund plans to combat again towards the EIA’s calls for, however particulars stay undisclosed. Nonetheless, earlier than this, they’re surveying to grasp how Bitcoin miners are serving to stabilize the electrical grid in the USA.
In early February, Lee Bratcher, the Texas Blockchain Council President, and Perianne Boring, the CEO of the Chamber of Digital Commerce, said the EIA ought to give attention to enhancing the outdated power infrastructure as an alternative of concentrating on personal corporations. Additionally they criticized the crackdown on Bitcoin mining, calling it a politically motivated transfer and an abuse of energy.
Characteristic picture from Canva, chart from TradingView
