Riot Platforms and The Texas Blockchain Council (TBC) have secured a favorable ruling in their lawsuit against multiple U.S. energy officials, including the U.S. Department of Energy (DOE).
According to a filing dated Feb. 22 in the U.S. District Court for the Western District of Texas, Riot and the TBC successfully convinced the district judge that immediate harm would occur without a temporary restraining order (TRO) to halt further data collection.
On Feb. 25, the court granted a TRO preventing the Energy Information Administration (EIA) —which is part of the DOE — from compelling crypto miners to participate in a survey and sharing collected data.
The TRO prohibits the EIA as well as the Office of Management and Budget (OMB) from requiring crypto miners to respond to the survey and share any data already collected.
The TBC and Riot Platforms argued that the potential damages include non-recoverable costs of compliance, a credible threat of prosecution, and the disclosure of proprietary information.
The court’s decision was based on evidence presented by the plaintiffs, demonstrating potential damages such as non-recoverable compliance costs, threats of prosecution for non-compliance, and risks of disclosing proprietary information.
As reported by crypto.news earlier, Riot Platforms celebrated generating total revenues of $281 million, mining 6,626 Bitcoins, and accruing $71 million in power credits in 2023.
Bitcoin mining sector sees immense growth
In 2023, the public Bitcoin mining sector raised $1.63 billion in equity through public sales, firming up their balance sheets and eliminating debt.
Meanwhile, the rise in power demand reflects a rebound in Bitcoin prices from a low of $16,611 on
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Author: Ogwu Osaemezu Emmanuel
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