When the U.S. Congress discusses cryptocurrency mining, it is often linked to claims that mining operations are environmental parasites, sapping limited energy resources. But industry representatives flooded offices on Capitol Hill this week to argue that their companies can help stabilize the power grid, harness renewable resources and foster domestic technology.
Executives representing more than 40 mining operations and their lobbyists struck dozens of House offices on Thursday, focusing on party members. House Energy and Commerce Committee.
“The primary message we are delivering to Congressional offices today is that bitcoin mining helps achieve and advance America’s energy security and national security,” said Perianne Boring, CEO of the Chamber of Digital Commerce, which organized the event. Digital power grid who led the lobbying event.
Last year, U.S. Senator Elizabeth Warren (D-Mass.) led other lawmakers in an investigation of crypto’s effects on Texas’ vulnerable energy grid. Warren and environmental groups have criticized the sector’s high energy consumption, calling it a threat to the global climate.
“We’ve seen a lot of misunderstandings around Bitcoin mining and energy policy,” Boring said, adding that the companies, in their House meetings, shared real-world examples of the technology’s integration into America’s energy infrastructure.
Sanjay Gupta, chief strategy officer at Auradine, a Silicon Valley technology company, focused much of his discussions on import restrictions and tariffs on Chinese technology in space. He said the United States already limits “Chinese companies’ access to sensitive high technology” but his company’s priority was “ensuring this is enforced.” Reports of Crypto facilities linked to China in the United States have raised some concerns.
Boring said the industry also supports an invoice from Rep. Pete Sessions (R-Tex.) which would establish that the House considers proof-of-work Bitcoin mining to be beneficial.