Chamber of Digital Commerce launches Digital Power Network miners’ coalition
The Chamber of Digital Commerce, a U.S. cryptocurrency advocacy group, has launched Digital Power Network to represent the interest of crypto miners....
- The Digital Power Network (DPN) is a new coalition affiliated with the Chamber of Digital Commerce, representing cryptocurrency miners in Washington.
- The DPN has many of the largest miners in the United States as members and shares team members with the Chamber.
- The DPN originated from the Chamber's Mining Initiative, which introduced a pro-proof-of-work resolution in the U.S. House of Representatives.
- The resolution, submitted by Texas congressman Pete Sessions, emphasized the critical role of Bitcoin mining in rebuilding energy independence in the USA.
- The DPN debuts with 11 members, representing over 50% of the U.S. Bitcoin hash rate.
- The DPN faces challenges, including a bill requiring the Environmental Protection Agency to investigate crypto miners and a proposed 30% tax on electricity used by miners in the Biden Administration's budget.
- The DPN will collaborate with the Digital Energy Council, a lobbying group founded by a former Chamber director of energy policy.
The article presents a positive outlook for cryptocurrency miners with the launch of the Digital Power Network and the support from major players in the industry. However, challenges such as potential regulations and taxes are mentioned, which may have a negative impact.