Bitcoin mining uses a lot of energy. The US government is about to find out how much.

The shift of crypto miners to the United States in search of cheap electricity has caused the country’s share of global crypto mining operations to grow to 38 percent. This has led to increased local electricity demand, stressed grids, and higher bills for residents. The U.S. Energy Information Administration is now requiring commercial crypto miners to report their energy consumption in an effort to gather data on the industry’s electricity use. Initial estimates suggest that crypto mining could account for between 0.6 percent and 2.3 percent of total annual U.S. electricity use, a substantial amount that has raised concerns about its impacts. This move for greater transparency comes amid concerns about the industry’s effects on utility bills and carbon pollution. Additionally, the industry’s role in reviving fossil fuel plants has also been documented. Despite claims from crypto mining companies, policymakers are beginning to take action to understand and mitigate the industry’s impact on the climate and local communities. The EIA’s surveys of crypto mining companies will provide valuable data on the sources of electricity used for cryptocurrency mining, and the findings are set to be published later this year.