The Final Agreement: Texas Blockchain Council & Riot Platforms, Inc. Successfully Block Illegal EIA-862 Collection Action

The Texas Blockchain Council and Riot Platforms, Inc. have reached a final agreement with the Energy Information Administration (EIA) that marks a significant victory for the mining industry. The agreement, which has just been released, includes several key provisions that will benefit the industry and protect against potential overreach by the government.

One of the most important aspects of the agreement is the EIA’s voluntary termination of the illegal EIA-862 collection action that they had initiated. This action will be stopped, and the EIA has committed to destroying all information that they have received and may still receive under the EIA-862. Additionally, the EIA will cancel and withdraw the February 9th, 2024 notice for collection and replace it with a new Notice.

The new notice will be open for public comment for a full 60 days from the date it is released in the Federal Register. The EIA has also agreed to incorporate and consider any comments that were received on the previous notice into the new one. This ensures that stakeholders have a voice in the process and that their concerns are taken into account.

While this agreement is a positive development for the mining industry, the fight is not over. Stakeholders will need to file comments on the new data collection notice as soon as it is released to ensure that their voices are heard. Groups opposed to bitcoin mining, such as the Sierra Club, are already gearing up to support the EIA’s new data collection efforts, so it will be important for industry advocates to remain vigilant and engaged.

As part of the agreement, the Government has also agreed to reimburse the Texas Blockchain Council & Riot Platforms, Inc. for $2,199.45 of court costs and attorney’s fees. While this may not cover the full expense incurred by the industry, it is a positive step towards ensuring that the industry is not unfairly burdened by government actions.

Overall, the agreement represents a significant win for the mining industry and demonstrates the importance of industry advocacy and engagement in protecting against government overreach. Stakeholders must remain vigilant and continue to actively participate in the regulatory process to ensure that their interests are protected.