As the cryptocurrency industry faces scrutiny from regulators and lawmakers, crypto miners have taken a proactive step to shape the future of their sector. The newly established Digital Energy Council (DEC) aims to advocate for balanced and sustainable policies that not only promote responsible crypto-mining practices but also contribute to the advancement of energy infrastructure and environmental sustainability.
Led by Tom Mapes, a seasoned figure in energy policy and government affairs, the DEC intends to bridge the gap between the crypto mining and energy sectors. By fostering collaboration, the council seeks to emphasize the potential of crypto mining in supporting energy infrastructure, enhancing resilience, and driving sustainability.
At the forefront of the DEC’s objectives is a visionary effort to address concerns about crypto mining’s environmental impact. The council plans to showcase the industry’s potential to contribute to U.S. energy goals, countering negative perceptions.
As regulatory debates intensify, the DEC’s formation signals the crypto-mining industry’s commitment to proactive engagement. This comes amidst discussions of a proposed 30% excise tax on mining operations and criticism from lawmakers regarding environmental implications.
Zach Bradford, CEO of CleanSpark (CLSK), a DEC member company, emphasized the importance of collective action in shaping policy. The DEC, he noted, offers a unique platform for collaborative discussion and transformative change.
Mapes, serving as the organization’s first employee, acknowledges the challenges ahead but remains optimistic. He believes the DEC’s advocacy efforts can pave the way for a more sustainable and responsible crypto-mining landscape. The Digital Energy Council’s emergence underscores the industry’s commitment to positive change, responsible practices, and a greener future.
In a report by Todayq News on March 22, 2023, the Texas House of Representatives member Cody Harris proposed a Bitcoin mining bill to safeguard miners and Bitcoin users while addressing energy concerns. This comes as a surprise, given Texas’s pro-crypto stance.
Meanwhile, on April 5, 2023, Senate Bill 1751, approved by the Senate, introduces stricter regulations on energy usage and taxation for miners, signaling a departure from Texas’s usual approach. The bill aims to improve power grid coordination, end certain tax incentives, and mitigate energy-related challenges. Passage through the House, Senate, and Governor’s office is required for the bill to become law.