US Bitcoin Miner Disclosure (Patreon)

With all the evidence of miners helping to stabilize our grid, this is clear political theater.  I doubt Biden even knows anything about this - but rather Elizabeth Warren is still seething over the approval of the bitcoin spot ETF. This is one way to somewhat exact revenge for that..  

Biden Administration in the United States announced an "emergency" data collection initiative to identify the electricity usage of the Bitcoin mining industry in America. The initiative requires commercial Bitcoin miners to provide detailed information about their energy usage, including the location and composition of their mining fleets.

Non-compliant miners could face significant fines of up to $10,633 per day for each day they fail to respond to the new reporting requirements. The fines are intended to encourage compliance and ensure that the government has accurate information on the energy consumption of the Bitcoin mining industry.

This move by the Biden Administration is part of a broader effort to address the environmental impact of Bitcoin mining, which has been criticized for its high energy consumption and potential contribution to climate change. By collecting data on the energy usage of the Bitcoin mining industry, the government hopes to develop a better understanding of its environmental footprint and inform future policy decisions.

The new reporting requirements have generated significant controversy within the Bitcoin mining community, with some industry participants expressing concerns about the potential impact on their operations. However, the Biden Administration has emphasized the importance of gathering accurate data to inform its decision-making process and address the environmental concerns associated with Bitcoin mining.

Miners weak today - despite BTC rebounding hard