News 🚀 Crypto Final Agreement On EIA Emergency Survey Released

[Capybara]

The final agreement between the Texas Blockchain Council & Riot Platforms, Inc., and the Energy Information Administration has just dropped, and it’s a good one.

In sum, the EIA will voluntarily terminate the illegal EIA-862 collection action they initiated, and they will commit to destroying all the information that they have received and may still receive under the EIA-862. Furthermore, they will also cancel and withdraw the February 9th, 2024 notice for collection, replacing it with a new Notice.

This new notice will run for a full 60 days from the date it is released in the Federal Register, and the EIA also has consented to ensure that any comments which have been received on the Feb. 9th notice will be incorporated and considered in the new notice.

So here’s the takeaway: the Government has to go back to the well and do it right. They can’t use a pretextual political “emergency” to ram this through, and fortunately the Mining industry, through the quick and decisive work of the Texas Blockchain Council & Riot, blocked that clear violation.

But the flight is not over, we have to file our comments on the new data collection notice as soon as it’s released. And you can see that the fight is going to be harder, as groups antagonistic to bitcoin mining are already jumping into the fray.

The Sierra Club attempted to file an amicus brief in this case. That brief, which did make it on the record (though it was opposed as improper and it’s moot now anyway), shows their arguments that they will likely elaborate on in a filing supporting the EIA’s new data collection. Those arguments are as weak as you might expect, but they will be out there and will need to be addressed and overcome.

Finally, as a lovely cherry on top, the Government will also reimburse the Texas Blockchain Council & Riot Platforms, Inc., for $2,199.45 of court costs and attorney’s fees. Clearly not enough to cover the expense, but still a sweet surprise. But let’s be clear, nothing in this agreement is “an admission of liability or wrongdoing… .” Sure, and “omething is rotten in the state of Denmark,” which can be smelt all the way in Waco, Texas.

This is a guest post by Colin Crossman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.