In a significant move, the crypto mining industry set up a specialized lobbying organization, the Digital Energy Council (DEC), with the goal of engaging politicians in fruitful dialogues. The primary objective of this newly established lobbying group is to dispel misconceptions surrounding the sustainability of crypto mining among Washington lawmakers. Its main focus is on educating and engaging policymakers to foster a clearer understanding of the industry.
The Digital Energy Council, founded on August 15th, aims to promote laws for energy expansion. It also advocates for digital asset mining. Thomas Mapes, the organization’s founder and president, is in charge of running the DEC. He has experience in energy management. Prior to joining the Chamber of Digital Commerce, Maps held the role of Director of Energy and was the Office of International Affairs’ Chief of Staff.
Maps emphasized the need for a cohesive and cogent voice to represent miners’ voice of digital assets in the nation’s capital and stated that the establishment of the Digital Energy Council was long overdue. He highlighted the mutually beneficial interaction between crypto mining companies and the energy economy by drawing on his own experience. These miners provide various advantages beyond just cryptocurrency production because they support the grid during times of high energy demand and buy excess energy that would otherwise go to waste.
Its official 🚨 first member association solely focused on the intersection of digital asset mining and energy ⚡️ policy at the federal level, look forward to working with digital asset and energy leaders check it out: https://t.co/kBFRkXHTNy https://t.co/kzNhtfxYZi
— Tom Mapes (@tommapes88) August 16, 2023
Expressing his vision, Mapes articulated, “I see them as energy companies in the future. I see energy companies, utility companies, power providers — the big majors — all taking a look at this new technology and figuring out ways they can get involved in this.” Acknowledging dissent among lawmakers, he highlighted recent legislation casting doubts on the industry’s potential.
Crypto Mining Gains Spotlight Amidst Regulatory and Environmental Concerns
Maps explicitly referred to a number of current events that have raised worries in the crypto mining industry. One aspect involves a White House study on crypto mining’s environmental effects. President Biden proposes a 30% excise tax on digital asset mining.
Energy and crypto mining firms, some publicly traded, back the Digital Energy Council. Founding members endorse the initiative. The association presently focuses on the US in lobbying efforts. Maps hinted at potential global expansion.
Excited to see the launch of the Digital Energy Council, the first association focused on the intersection of energy security and digital asset mining. Their mission to promote responsible energy practices, grid resilience, and economic growth through crypto mining is crucial for
— Daniel Speiss (@DanielSpeiss) August 15, 2023
The Digital Energy Council’s establishment underscores crypto mining’s growing significance in the broader energy landscape. Recognition of its importance grows. DEC aims for an informed, balanced framework promoting innovation and tackling ecological concerns. It adapts to crypto mining’s evolving popularity.