This time, the SEC has a complementary role in coordinating market makers and Yellen's proposal. The United States has made regulations to facilitate the regulation of the cryptocurrency field.This time, the focus is on mining. Since 2021, the mineral industry has been transferred to the United States, especially Texas, which is the base of mining companies. Non-U.S. companies have to set up offices in Texas. Mining in Texas has received support from the state government.With the inflation problem in the United States, energy costs continue to increase, increasing the burden. However, the United States has transparent policies and stable political situation. Even if the cost increases, many mining companies still choose to mine in the United States. Currently, the cost of BTC mining is above US$35,000. The company is close to $40,000.On February 1, 2024, the U.S. Energy Information Administration published an article "Tracking the electricity consumption of cryptocurrency mining operations in the United States." Cryptocurrency mining electricity accounted for 2.2% of the total electricity consumption in the United States. Consumption has doubled from last year. Therefore, the U.S. Energy Information Administration is preparing to launch a temporary investigation into the power consumption of 82 crypto mining companies from 2024/2-2024/7, and is authorized by the U.S. Office of Management and Budget as an emergency data collection request."We continue to analyze and write about the energy impacts of cryptocurrency mining," EIA Director Joe DeCarolis said. "We will pay special attention to how the energy needs of crypto mining evolve and identify high-growth areas to meet the power sources of crypto mining." Actions that appear to be conducive to cryptocurrency mining are actually a new undercurrent.The special data survey was only conducted for crypto mining. In fact, it is not just the crypto field that consumes more energy. AI requires a lot of computing power and consumes even more energy, and this field has never shown signs of being censored.In the investigation document, EIA explained that the investigation of crypto mining companies was because this situation may cause a public crisis, just like the incident in Plattsburgh, New York (2018/3 The city of Plattsburgh, New York passed the crypto mining mine ban)Due to the pace of activity that could disrupt the electricity industry, this proposed emergency investigation is necessary for EIA to fulfill its mission of providing timely data collection to promote sound policymaking, effective markets, and impact on the energy and economic and environmental Understanding of interactions needs to be collected monthly to fully monitor the impact of crypto mining, and there are new changes in legislation in the field of cryptocurrency mining.
