• Home
  • Bitcoin
  • Sustaining the Future: US Crypto Mining Lobby Aims to Dispel Environmental Misconceptions

Sustaining the Future: US Crypto Mining Lobby Aims to Dispel Environmental Misconceptions

Aug 16, 2023 at 12:33 pm

A new lobbying group is emerging within the United States cryptocurrency mining sector, aiming primarily to rectify misunderstandings about its environmental sustainability among policymakers.

Officially launched on August 15, the Digital Energy Council's primary objective is to promote policies that foster the expansion of digital asset mining and energy infrastructure.Founder and President of the council, Thomas Mapes, informed Cointelegraph that it was high time for digital asset miners to establish a unified presence in Washington.

Mapes, who formerly held the position of Director of Energy at the Chamber of Digital Commerce, and prior to that, Chief of Staff at the U.S. Department of Energy's Office of International Affairs, began to perceive crypto mining companies as a crucial element of the energy ecosystem during his tenure at the Energy Department. He recognized their role in contributing energy to the grid during periods of high demand or procuring surplus energy that would otherwise go unused, among other advantages.

In Mapes' view, these entities could be considered energy companies in the future, with major players in the energy, utility, and power sectors exploring opportunities to engage with this emerging technology.

Nevertheless, Mapes noted that many legislators have not yet adopted this perspective. He highlighted recent instances of legislative actions taken against the industry over the past year.

One notable instance was the reintroduction of legislation by the chair of the Senate Environment and Public Works Subcommittee in March, accusing crypto miners of excessively straining public grids and emitting significant greenhouse gases for their personal gain.Mapes also pointed to President Biden's proposal for a 30% excise tax on digital asset mining and the White House's report on the environmental impact of crypto mining as additional examples of such sentiment.Mapes confirmed the existence of several founding members within the association, encompassing both cryptocurrency mining and energy firms, some of which are publicly traded companies. 

For now, the association's membership and lobbying activities will exclusively concentrate on the United States.

Related News

Sign up for daily crypto news in your inbox

Get crypto analysis, news and updates right to your inbox! Sign up here so you don't miss a single newsletter.