The United States Energy Information Administration (EIA) will carry out an investigation into the electricity consumption of Bitcoin mining companies in the country. Starting on Monday, February 5, the entity will send a survey to around 82 mining companies, with the aim of obtaining precise data on their energy consumption.
The survey seeks data ranging from basic information, such as the name and address of the company, to more specific aspects, such as the breakdown of the facilities where Bitcoin is mined. Included are requests for the exact location – with geographic coordinates –, total electricity consumption, the percentage allocated to Bitcoin mining and details about the electrical service provider and the sources from which the energy comes, Reuters reports.
An important feature of the survey is that it is mandatory. The EIA statement clarifies that failure to complete it "may lead to fines, civil penalties and other sanctions provided for by law." In addition, it is reported that lying or providing false information constitutes a criminal offense.
Another highlight of the survey is the detailed breakdown of the mining fleet. The EIA aims to obtain specific information on the number of miners at each facility, their average age, and the maximums and averages of electrical loads and hashrate. In addition, you will get data on the regions where cryptocurrency mining is most concentrated in the country.
The EIA, the entity in charge of collecting, analyzing and distributing energy-related data in the United States, has classified this survey as an "emergency" measure to better understand the impact of Bitcoin mining on the national electricity supply. It is estimated that this activity represents up to 2.2% of the country's total electricity consumption, according to data obtained in a "rigorous" analysis of public information.
The Rocky Mountain Institute, a Colorado-based nonprofit focused on the transition to cleaner energy sources, estimated last year that the Bitcoin network consumes 127 terawatt-hours (TWh) annually. Thus, it even exceeds the energy consumption of the entire country of Norway.
The news has generated diverse reactions. While some see the survey as a necessary step to better understand the current anatomy of Bitcoin mining in the region, others, like Marty Bent, co-founder of mining company Standard Bitcoin, consider it “an excessive intrusion” that could mark the start of stricter regulation for the industry.
Although the EIA has used the terminology “cryptocurrencies,” the survey appears to focus specifically on Bitcoin mining. According to mining statistics provided by Braiins, 34.4% of the network's total hashrate is located in the United States.
Of course, Foundry USA predominates, with 31.5% of the network's total hashrate coming from North American lands. They are also followed by Luxor, with 2%, and MARA Pool, with 0.8%, after a drastic and mysterious drop in their computing power.
