The cryptocurrency mining landscape in the U.S. is on the brink of significant change, with the introduction of the Digital Power Network (DPN). Joining forces as the newest associate of the Chamber of Digital Commerce, DPN embodies the aspirations of the crypto mining community, aspiring to shape energy policies favorable to the sector.
Built on the Chamber’s Mining Initiative legacy, DPN isn’t just another new kid on the block. It commences with a robust membership comprising Argo, BitDigital, BitFarms, Coinmint, Cipher Mining, and several other mining powerhouses. Together, they represent over 50% of the Bitcoin hash rate in the U.S., reflecting the alliance’s potential impact.
Behind DPN’s inception, Congressman Pete Sessions of Texas stands out as a remarkable advocate. He is credited with the U.S. House of Representatives’ inaugural pro-proof-of-work resolution, signifying the growing acceptance of cryptocurrency and its mining in mainstream governance. Notably, Sessions has been vocal about the potential of Bitcoin mining in rejuvenating America’s energy sovereignty.
However, DPN’s voyage is set against a backdrop of regulatory apprehensions. A proposed EPA-led examination into crypto mining practices and a debated 30% tax on miners’ electricity consumption in the Biden Administration’s FY2024 budget draft underscores the pressing challenges ahead.
DPN isn’t just relying on its affiliation with the Chamber to fortify its position. It aligns itself with the Digital Energy Council, a formidable entity in policy advocacy steered by energy policy expert Thomas Mapes.