Political advocacy group Digital Power Network launches, representing 50% of total US hash rate. A look at consolidation in the mining industry before next halving.
By Landon Manning
The Chamber of Digital Commerce, a political advocacy group dedicated to Bitcoin and the crypto sphere, has turned heads with an announcement that the members of its new mining-specific group represent more than 50 percent of the entire US Bitcoin mining industry.
The Chamber of Digital Commerce has existed since 2014, with its own registered committee able to make contributions to political candidates. Although its existence represented a significant step for the growing relationship between a hostile political establishment and the new economic world of cryptocurrency, its footprint remained relatively small for most of its existence. Campaign disclosures have only recorded $2700 in donations for any Congressional races, in 2017, but in March 2023 they partnered with a Texas Representative to introduce a bill supporting proof-of-work mining.
The Chamber’s work in getting this bill off the ground has apparently been quite useful in building up industry connections, because it made a major splash in late September by announcing the formation of a new working group: the Digital Power Network. With a mission statement of promoting the interests of American miners, the Network plans to partner with legislators to support fair and straightforward regulation over many aspects of the crypto industry. This is all well and good, but this new group has some…
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