The United States crypto mining industry has unveiled a new lobbying entity: the Digital Energy Council. This group launched on Aug. 15, striving to advance policies fostering digital asset mining and energy development. Thomas Mapes is the DEC founder and President.
Mapes’ Vision for the Industry’s Integration into Energy Ecosystem
Previously, Mapes held the position of director of energy at the Chamber of Digital Commerce. Earlier, he served as chief of staff in the U.S. Department of Energy’s Office of International Affairs.
During his tenure at the Energy Department, Mapes began recognizing crypto mining firms’ pivotal role in the energy framework. Specifically, these firms contribute by supplying energy during high-demand periods and absorbing excess energy.
“I envision them as future energy companies,” Mapes declared. He continued, noting major energy and utility companies’ growing interest in this nascent technology. Mapes perceives them as exploring ways to engage with this revolutionary advancement.
Yet, Mapes highlighted that many legislators don’t view the industry through the same lens. Recent legislative proposals reflect this differing perspective. He mentioned, “There’s been legislation against the industry in the past year.”
Crypto Mining Policy Challenges: Industry Misconceptions and Taxes
The Senate Environment and Public Works Committee chair reintroduced a bill in March. It criticized crypto miners for excessive energy consumption and significant greenhouse gas emissions, all for profit.
Furthermore, Mapes pointed to Biden’s proposed 30% tax on digital asset mining and the White House’s assessment of crypto mining’s environmental implications as additional challenges.
Significantly, the Digital Energy Council boasts several foundational members. These members encompass crypto mining entities and energy firms, some publicly traded companies.
Mapes clarified that, for now, the association will concentrate its membership and lobbying efforts exclusively on the U.S. landscape. It will be intriguing to see if these efforts bear any fruit. Global negativity toward cryptocurrency mining remains a key problem in the industry.
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