Cryptocurrency miners have a new voice in Washington with the launch of the Digital Power Network (DPN), a new coalition affiliated with the Digital Chamber of Commerce. The network is off to a promising start, with many of the largest US miners on board.
The DPN is the Chamber's first affiliate and shares many of the same team members. Its origins date back to the House Mining Initiative, which “pioneered the introduction of the first pro-proof-of-work resolution in the U.S. House of Representatives.”
Alena Ricci, vice president of marketing at the Chamber and head of marketing at the DPN, explained to Cointelegraph that the resolution was sent by Texas Congressman Pete Sessions in March. "Bitcoin mining will play a critical role in rebuilding energy independence in the US." Tweeted sessions At the time.
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The DPN debuts with 11 members: Argo, BitDigital, BitFarms, Coinmint, Cipher Mining, DigitHost, Hive, Marathon, Riot, Sustainable Bitcoin Protocol and Terawulf. Together they represent more than 50% of US Bitcoin (btc) hash rate, the DPN said. According to a statement:
“Digital Power Network is spearheading policy advocacy for digital asset mining and shaping the future of energy policy. “Its mission is to defend Bitcoin and blockchain technology to revolutionize energy markets.”
The DPN has a lot of work ahead of it. A bill reintroduced in Congress in March, before Sessions' resolution, would require the Environmental Protection Agency to investigate crypto miners. The Biden Administration included a 30% tax on electricity used by crypto miners in its fiscal year 2024 budget, although that proposal may have been dropped.
Exciting news!
Today we are delighted to announce the launch of @digitalpowerUS, a visionary consortium that will revolutionize the energy landscape. Representing more than 50% of the US. #Bitcoin Hash Rate, this initiative changes the rules of the game for the future of energy policy. pic.twitter.com/8wtpRy1dyD
- Perianne (@PerianneDC) September 19, 2023
The DPN will work alongside the Digital Energy Council, a pressure group founded in august by former House energy policy director Thomas Mapes.
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