On Friday, a significant dispute arose between Bitcoin miners and US energy agencies such as DOW, EIA, OMB, etc. regarding the collection of data on the energy consumption of crypto miners.
Following the filing of a lawsuit by the Texas Blockchain Council against the US energy agencies, the energy department announced a suspension of the Bitcoin mining survey.
US Senator Shows Support for Bitcoin Miners
Senator Cynthia Lummis of Wyoming applauds a milestone in the intersection of Bitcoin and American energy policies, praising the Energy Information Administration’s (EIA) decision to temporarily stop a controversial survey. Lummis highlights the importance of safeguarding American innovation from regulatory excess.
Senator Lummis emphasizes the positive impact of Bitcoin mining on America’s energy grids and the advancement of new energy resources. Pleased with the EIA’s pause on its intrusive survey, Lummis invites Bitcoin miners to explore opportunities in Wyoming.
Lummis’ comments reflect her ongoing support for Bitcoin mining as a beneficial contributor to America’s energy sector. She has also expressed support for legitimate players like Coinbase in their battle against the US SEC.
How BTC Miners Can Benefit America’s Energy Grids
Bitcoin has the potential to transform renewable energy generation by addressing key challenges faced by the sector. Currently, renewable energy sources like solar and wind struggle with reliability, cost, and grid integration. Bitcoin mining offers a solution to these challenges.
Solar and wind energy are intermittent, generating power only when the sun shines or the wind blows. Much of this energy is wasted during low demand, leading to curtailment. By purchasing excess energy from renewable farms, Bitcoin miners can boost revenue for renewable generation and reduce the need for taxpayer subsidies, creating a mutually beneficial situation.
Furthermore, miners can help smooth out the intermittent generation of renewables by participating in grid-balancing services. By consuming excess generation from renewables and adjusting their energy consumption during peak demand, miners contribute to stabilizing the grid. This ensures reliable power for critical services like hospitals and businesses while keeping energy prices affordable. In essence, Bitcoin mining presents an opportunity to enhance the efficiency and sustainability of renewable energy systems.
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- Source: https://cryptoinfonet.com/regulation/senator-cynthia-lummis-backs-bitcoin-miners-in-dispute-with-energy-department/
