Cryptocurrency miners in the United States now have a new voice in Washington with the launch of the Digital Power Network (DPN), a coalition affiliated with the Chamber of Digital Commerce. The DPN has already gained support from some of the country’s largest miners.
The DPN is the first affiliate of the Chamber and shares several team members with the organization. Its roots can be traced back to the Chamber’s Mining Initiative, which introduced the first pro-proof-of-work resolution in the U.S. House of Representatives.
According to Alena Ricci, the vice president of marketing at the Chamber and head of marketing at the DPN, the resolution was submitted by Texas congressman Pete Sessions in March. Sessions tweeted at the time, “Bitcoin Mining will play a critical role in rebuilding energy independence in the USA.”
The DPN has launched with 11 members, including Argo, BitDigital, BitFarms, Coinmint, Cipher Mining, DigitHost, Hive, Marathon, Riot, Sustainable Bitcoin Protocol, and Terawulf. Together, these members represent over 50% of the U.S. Bitcoin (BTC) hash rate. The DPN’s mission is to champion Bitcoin and blockchain technology to revolutionize energy markets.
However, the DPN faces challenges ahead. A bill reintroduced into Congress in March would require the Environmental Protection Agency to investigate crypto miners. Additionally, the Biden Administration’s FY2024 budget included a proposal for a 30% tax on electricity used by crypto miners, although it is unclear if this proposal will move forward.
The DPN will collaborate with the Digital Energy Council, a lobbying group founded in August by former Chamber director of energy policy Thomas Mapes.
This development provides cryptocurrency miners with a platform to advocate for their interests and shape the future of energy policy in the United States. With the support of influential members in the industry, the DPN aims to ensure that Bitcoin mining continues to thrive while also addressing environmental concerns.
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