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EnergyMine Alliance: Uniting Crypto Miners for Sustainable Growth

Aug 16, 2023 at 12:54 pm

A new lobbying organization has emerged within the United States cryptocurrency mining sector, with a primary objective of debunking misconceptions about its environmental sustainability among policymakers.

Officially launched on August 15th, the Digital Energy Council (DEC) has declared its mission to promote policies that foster the expansion of digital asset mining and energy infrastructure development.

Thomas Mapes, the founder and President of DEC, emphasized the necessity of a consolidated voice for digital asset miners in Washington, asserting that such an initiative has been overdue.

Mapes, who formerly held the position of energy director at the Chamber of Digital Commerce and served as chief of staff at the U.S. Department of Energy’s Office of International Affairs, revealed that his perspective on crypto mining underwent transformation during his tenure at the Energy Department. He began to view crypto mining companies as integral components of the energy ecosystem, contributing by supplying energy to the grid during peak demand periods and purchasing surplus energy that would otherwise go unused.

He commented, "I envision them as energy enterprises in the future," and added, "I anticipate major energy, utility, and power providers will explore ways to engage with this new technology."

Nonetheless, Mapes expressed concern that numerous legislators have not embraced this perspective. He cited instances of legislative actions targeting the industry over the past year.

For instance, in March, the chair of the Senate Environment and Public Works Subcommittee reintroduced a bill that accused crypto miners of excessively straining public power grids and emitting substantial greenhouse gases solely for profit.

Mapes pointed to President Biden's proposed 30% digital asset mining excise tax and the White House's report on the environmental impact of crypto mining as further examples of such legislative focus.

He verified that the association has garnered founding members, including both cryptocurrency mining and energy firms, some of which are publicly traded companies. 

For the time being, the association's membership and lobbying endeavors will be exclusively concentrated on the United States.

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