🔥Early Access List: Land A High Paying Web3 Job In 90 Days LEARN MORE

Texas Blockchain Council defeats Biden administration in fight for Bitcoin miners

476622
Texas Blockchain Council defeats Biden administration in fight for Bitcoin miners

Contents

Share link:

In this post:

  • The Texas Blockchain Council won a lawsuit against the Biden administration, stopping data collection on Bitcoin mining.
  • The government is now required to delete all previously gathered data on Bitcoin miners.
  • The dispute began over a Department of Energy survey that sought detailed information on the power usage of cryptocurrency mining.

The Texas Blockchain Council’s battle against the Biden administration has marked a significant victory for Bitcoin miners nationwide. This face-off culminated in the government being compelled to obliterate the data it had collected on Bitcoin mining activities. This action not only halted the administration’s efforts to amass data on Bitcoin miners but also mandated the deletion of all previously collected information.

The dispute traced back to January 24, when the Texas Blockchain Council, alongside Riot Platforms, a mining entity, lodged a legal challenge in a Texas federal court. Their bone of contention was a survey disseminated by the U.S. Department of Energy in early January, aimed at understanding the evolving power demands of cryptocurrency mining. This government-led inquiry not only sought to pinpoint regions with burgeoning Bitcoin mining activities but also to gather specifics on the power sources fueling these operations. The council, however, viewed this move as an overreach, potentially detrimental to the mining sector’s business landscape.

Miners expressed discontent, arguing the survey was sprung upon them without adequate public notification, thereby flouting legal prerequisites. Their demands for a permanent injunction against the Energy Information Administration (EIA) underscored a plea for adherence to established legal frameworks before such data requisitions. The triumph in this legal tussle has set a precedent, ensuring that any future data requests by the EIA would necessitate a thorough notice and comment procedure.

See also  Dogecoin network sees 72% surge in new addresses amid growing adoption

Despite this landmark ruling, the EIA, alongside the Biden administration, has remained tight-lipped, offering no commentary on the outcome. This silence has not dampened the spirits of the Texas Blockchain Council, especially its Chairman President Lee Bratcher, who vocally criticized the EIA’s hurried approach in issuing what he deemed an unnecessary emergency survey. Bratcher’s critique extended to the survey’s invasive nature, probing for proprietary information without following due protocol.

Bratcher shed light on the political undercurrents influencing the survey’s issuance, pointing fingers at Senator Elizabeth Warren for her overt pressure on the Energy Secretary. Warren’s insistence on scrutinizing Bitcoin’s energy footprint, according to Bratcher, ignored the sector’s potential benefits and disproportionately targeted Bitcoin miners. Despite Warren’s environmental concerns, Bratcher remains optimistic about Bitcoin mining’s shift towards a blend of renewable energy sources and stranded or wasted gases.

Texas, with its unique energy marketplace, emerges as a fertile ground for Bitcoin mining, offering companies a strategic advantage in power trading. Yet, Bratcher cautions newcomers about the industry’s competitive edge, emphasizing the necessity of experienced operation teams for survival.

Share link:

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Cryptopolitan
Subscribe to CryptoPolitan

Interested in launching your Web3 career and landing a high-paying job in 90 days?

Leading industry experts show you how with this brand new course: Crypto Career Launchpad

Join the early access list below and be the first to know when the course opens its doors. You’ll also save $100’s off the regular launch price.