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New Lobbying Group for Crypto Mining Industry
A fresh advocacy group is being ushered in for the American cryptocurrency mining sector, primarily targeting to rectify misinterpretations about its environmental impact among legislation makers. The Digital Energy Council, unveiled on the 15th of August aims to foster policies that facilitate the expansion of digital asset mining and energy harnessing.
A Unified Voice for Digital Asset Miners
Thomas Mapes, the founder and president of the Digital Energy Council, conveyed to Cointelegraph that it is high time digital asset miners received representation in Washington. Prior to launching the DEC, Mapes championed energy matters at the Chamber of Digital Commerce, and was head of staff at the Office of International Affairs under the U.S. Department of Energy.
Crypto Mining Firms: Energy Ecosystem Contributors
During his tenure at the Energy Department, Mapes began viewing cryptocurrency mining companies as critical contributors to the energy arena. This perspective was based on their ability to supply energy to the grid during high-demand periods and to buy surplus energy that would potentially be wasted among other advantages.
The Perception Challenge
Nevertheless, Mapes acknowledged the lack of recognition of mining firms' contribution among most lawmakers. He noted that in the past year, there have been instances of legislation targeting the industry. Mapes mentioned accusations by the Senate Environment and Public Works Committee chair that crypto miners were excessively using power from public grids and contributing to greenhouse emissions. He also referred to the proposed 30% tax on digital asset mining by President Biden and the government's reports on the environmental impacts of crypto mining.
DEC's Founding Membership
Mapes verified the council's founding members, which features various crypto mining and energy firms, including some that are publicly traded entities. The organization's membership and advocacy efforts will be uniquely centered on the U.S. for the moment.
