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US government targets crypto mining energy use in new data initiative

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The U.S. government has announced a new initiative to keep tabs on the energy consumption of cryptocurrency mining operations.

The Energy Information Administration (EIA) will soon embark on a data-gathering mission, engaging directly with commercial crypto miners to gather comprehensive details regarding their energy usage.

Starting next week, this exercise aims to highlight the evolving energy patterns related to crypto mining, pinpoint areas of concentrated growth, and shed light on the energy sources underpinning this digital asset creation.

Authorized under an urgent data collection directive by the White House Office of Management and Budget, this initiative stems from heightened attention to the environmental impacts of crypto mining.

Joe DeCarolis, the EIA Administrator, emphasized the significance of this inquiry, stating that understanding how the energy demand for cryptocurrency mining is changing and identifying regions with rapid expansion will be amongst the agency’s key focuses.

This surge in electricity usage for mining purposes, primarily for Bitcoin (BTC), falls against the backdrop of a dynamic industry that frequently migrates to chase lower power costs and legislative havens.

These nomadic tendencies are complicating the efforts of grid planners to keep up while also sparking a conversation around mandated disclosures on emissions and energy consumption.

Bitcoin’s energy-intensive proof-of-work mining process has been contrasted with the more energy-conservative proof-of-stake methods adopted by other cryptocurrencies like Ethereum (ETH).

According to the

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Author: Julius Mutunkei

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