cryptointelligence.co.uk
The launch of the Digital Energy Council on August 15 marks a significant development in the United States’ crypto mining sector, aiming to debunk misunderstandings about its environmental impact among policymakers.
The council’s primary objective is to champion policies that foster the expansion of digital asset mining and energy innovation.
Thomas Mapes, the founder and president of the council, emphasized the pressing need for a united voice for digital asset miners in the corridors of power in Washington.
Drawing from his past role as the director of energy at the Chamber of Digital Commerce and his experience as the chief of staff at the U.S. Department of Energy’s Office of International Affairs, Mapes underlined the crucial role of crypto mining companies in the energy ecosystem.
He highlighted how these entities contribute by either supplying energy to the grid during peak demand periods or purchasing excess energy that would otherwise go to waste.
Mapes envisions a future where crypto mining firms evolve into energy companies, alongside established players like utility companies and major power providers.
However, he acknowledged that many lawmakers have yet to share this perspective. Over the past year, legislative measures have been introduced that cast a shadow on the industry’s reputation.
For instance, in March, the chair of the Senate Environment and Public Works Subcommittee reintroduced legislation alleging that crypto miners strain public grids and release substantial greenhouse gas emissions solely for personal profit.
Mapes further referenced President Biden’s proposal for a 30% excise tax on digital asset mining and the White House’s report on the environmental impact of crypto mining as additional instances that have generated concerns.
Mapes disclosed that the association already boasts a roster of founding members, encompassing both crypto mining and energy companies, some of which are publicly traded entities.
While the association’s initial focus will be on the U.S., Mapes emphasized that both membership and lobbying efforts are concentrated within the country.
In summary, the inauguration of the Digital Energy Council on August 15 signifies a pivotal step in the U.S. crypto mining realm, as it endeavors to correct misconceptions surrounding the sector’s sustainability while advocating for policies conducive to its growth and technological innovation.