Cryptocurrency miners in Washington have a new voice with the launch of the Digital Power Network (DPN), a new coalition of the Chamber of Digital Commerce. The network is off to a promising start, with many of the largest miners in the United States on board.
The DPN is the Chamber’s first affiliate and features many of the same team members. Its origins date back to the Chamber’s Mining Initiative, which “pioneered the introduction of the first pro-Proof of Work resolution in the U.S. House of Representatives.”
Resolution from Rep. Pete Sessions on Proof-of-Work Crypto Mining. Source: govinfo.gov
Alena Ricci, deputy director of marketing for the chamber and director of marketing for DPN, told Cointelegraph that the resolution was filed in March by Texas Congressman Pete Sessions. “Bitcoin mining will play a critical role in restoring energy independence in the US,” Sessions tweeted at the time.
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The DPN launches with 11 members – Argo, BitDigital, BitFarms, Coinmint, Cipher Mining, DigitHost, Hive, Marathon, Riot, Sustainable Bitcoin Protocol and Terawulf. Together, they account for over 50% of the U.S. Bitcoin (BTC) hash rate, the DPN said. According to the statement:
“The Digital Power Network is at the forefront of policy advocacy for digital asset mining and shaping the future of energy policy. Its mission is to champion Bitcoin and blockchain technology to revolutionize energy markets.”
The DPN has a lot ahead of it. A bill reintroduced to 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 plan, although that proposal may have been scrapped.
Today we are excited to announce the launch of @digitalpowerUS, a visionary consortium that aims to revolutionize the energy landscape! This initiative accounts for over 50% of the US #Bitcoin hash rate and is a game-changer for the future of energy policy. pic.twitter.com/8wtpRy1dyD
— Perianne (@PerianneDC) September 19, 2023
The DPN will work with the Digital Energy Council, a lobby group founded in August by former chamber energy policy director Thomas Mapes.
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