Lobby group to dispel crypto mining misconceptions in DC, says founder

The US crypto mining trade is getting a brand new lobbying group, with one in all its largest targets to dispel misconceptions about its sustainability from policymakers. 

Launched on Aug. 15, the Digital Vitality Council mentioned its aim is to advance policies that encourage the expansion of digital asset mining and power improvement.

DEC founder and president Thomas Mapes informed Cointelegraph it was “lengthy overdue” for digital asset miners to have a unified voice in Washington D.C.

Its official first member affiliation solely targeted on the intersection of digital asset mining and power ⚡️ coverage on the federal degree, stay up for working with digital asset and power leaders test it out: https://t.co/kBFRkXHTNy https://t.co/kzNhtfxYZi

— Tom Mapes (@tommapes88) August 16, 2023

Mapes beforehand served because the director of power on the Chamber of Digital Commerce. Previous to that, he was chief of employees on the U.S. Division of Vitality’s Workplace of Worldwide Affairs.

Mapes mentioned it was throughout his time on the Vitality Division that he started to see crypto mining corporations as an important a part of the power ecosystem — offering power to the grid throughout instances of demand or buying extra power that will in any other case go unused — amongst different advantages.

“I see them as power firms sooner or later,” he mentioned, including:

“I see power firms, utility firms, energy suppliers — the massive majors — all having a look at this new know-how and determining methods they will get entangled on this.”

Nonetheless, Mapes expressed that many lawmakers have but to see the trade in the identical gentle. “Inside the previous 12 months or so, you will have items of laws dropping towards the trade,” he mentioned.

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In March, the chair of the Senate Setting and Public Works Submittee announced the reintroduction of legislation accusing crypto miners of “sucking megawatt after megawatt from our public grids” and emitting large quantities of greenhouse gasses, “simply to allow them to make a buck for themselves.”

Mapes cited Biden’s proposed 30% digital asset mining excise tax and the White Home’s crypto mining environmental impression report as different examples.

Mapes confirmed the affiliation has a number of founding members which embody crypto mining and power corporations — a few of that are publicly listed firms.

Excited to see the launch of the Digital Vitality Council, the primary affiliation targeted on the intersection of power safety and digital asset mining. Their mission to advertise accountable power practices, grid resilience, and financial development by means of crypto mining is essential for

— Daniel Speiss (@DanielSpeiss) August 15, 2023

The affiliation’s membership and its lobbying efforts might be solely targeted on the U.S. for now, he added.

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