The U.S. Energy Information Administration (EIA) announced on Wednesday its intention to intensify monitoring of electricity consumption by cryptocurrency mining companies operating within the United States.
In response to growing concerns about the environmental impact of cryptocurrency mining, the EIA plans to initiate a comprehensive survey targeting select bitcoin miners.
The agency is set to launch the survey next week, requiring participating miners to provide detailed information regarding their energy usage. This initiative is part of an emergency data collection request authorized by the Office of Management and Budget on January 26.
Cryptocurrency miners have faced increased scrutiny in recent years due to the substantial energy requirements of their operations, raising concerns about their impact on power grids and carbon emissions. The EIA’s survey aims to shed light on the evolving power demand dynamics associated with cryptocurrency mining. It will also identify regions in the country where mining growth is concentrated and analyze the electricity sources powering these operations.
Global energy consumption from bitcoin mining has grown 101 percent since Jan. 1, 2023 to reach 141.2 TWh as of Dec. 20, 2023 according to data from Digiconomist.
The United States is one of the largest bitcoin miners in the world, a separate analysis by the University of Cambridge estimated.
The global crypto mining industry currently consumes as much electricity annually as…