Digital Miners Establish the Digital Energy Council to Advocate for their Interests
Crypto miners are forming the Digital Energy Council to represent their interests in U.S. policy-making. This move comes as regulators and Congress are grappling with how to regulate the crypto industry. The council aims to promote responsible and sustainable energy development, grid resilience, competitiveness, and national security.
Key Points:
- Miners face challenges from President Joe Biden’s administration, which is proposing a 30% excise tax on mining operations.
- Democratic lawmakers have criticized mining companies for their impact on the environment.
- The Digital Energy Council seeks to highlight the potential collaboration between the digital asset mining and energy industries to support energy infrastructure and sustainability.
- The council’s founder and president, Tom Mapes, emphasizes the importance of giving both the energy and digital asset mining communities a voice at the federal level.
- One of the council’s member companies, CleanSpark, believes that a strong coalition and dedicated efforts are crucial in navigating the political landscape.
Hot Take:
The establishment of the Digital Energy Council is a significant step for crypto miners to advocate for their interests and address the challenges they face. By promoting responsible energy development and highlighting the potential benefits of digital asset mining, the council aims to shape policies that support the industry’s growth while addressing environmental concerns. It remains to be seen how effective their advocacy efforts will be in influencing U.S. crypto regulation.
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