The United States crypto mining industry has established a new lobbying group called the Digital Energy Council (DEC), with the primary goal of dispelling misconceptions about the sustainability of crypto mining from policymakers. The DEC, launched on August 15th, aims to promote policies that encourage the growth of digital asset mining and energy development.
According to Thomas Mapes, the founder and President of DEC, it was long overdue for digital asset miners to have a unified voice in Washington. Mapes, who previously served as the director of energy at the Chamber of Digital Commerce and chief of staff at the U.S. Department of Energy’s Office of International Affairs, believes that crypto mining firms are an essential part of the energy ecosystem. He notes that these firms provide energy to the grid during times of demand and can purchase excess energy that would otherwise go unused, among other benefits. Mapes envisions a future where crypto mining firms are seen as energy companies, utility companies, and power providers, with major players in the energy industry exploring ways to get involved in this new technology.
However, Mapes acknowledges that many lawmakers have yet to see the industry in the same light. Over the past year, there have been legislative proposals against the crypto mining industry, including claims that these miners consume excessive amounts of energy and emit significant greenhouse gases. Mapes specifically mentions the reintroduction of legislation in March that accused crypto miners of “sucking megawatt after megawatt from our public grids” for their own financial gain. He also points to President Biden’s proposed 30% digital asset mining excise tax and the White House’s crypto mining environmental impact report as examples of negative attention towards the industry.
The Digital Energy Council has already attracted several founding members, including publicly listed crypto mining and energy firms. These companies are committed to promoting responsible energy practices, ensuring grid resilience, and fostering economic growth through crypto mining. While the association is currently focused on the U.S., Mapes has confirmed that its membership and lobbying efforts may expand in the future.
In conclusion, the Digital Energy Council has emerged as a lobbying group in the United States crypto mining industry with the primary objective of addressing misconceptions about the sustainability of crypto mining. By advocating for policies that support digital asset mining and energy development, the DEC aims to promote the growth and acceptance of the industry. With a unified voice in Washington, the association hopes to engage policymakers and demonstrate the valuable role that crypto mining firms play in the energy ecosystem. Despite challenges and negative perceptions, the DEC is determined to change the narrative surrounding crypto mining and position it as a crucial part of the energy industry’s future.
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