Letter to the Subcommittee on Energy hearing, “Powering America’s Future: Unleashing American Energy”

The DPN wrote a letter to the House Committee on Energy and Commerce Subcommittee on Energy for their hearing on February 5th entitled Powering America’s Future: Unleashing American Energy to discuss the energy benefits of Cryptocurrency mining. We emphasized the miners’ ability to scale energy use up or down in real time, reducing grid strain during peak demand which allows them to stabilize the grid, lower prices, and rely on a broad range of energy sources. Due to this flexibility, the miners largely rely on renewables and utilize energy sources, like methane emissions, that otherwise would have been wasted. Many data centers also receive direct energy from co-located power plants, which reduces the strain on the grid. Finally, we discussed benefits of crypto mining to the economy through its revitalization of communities and how all of this makes the mining industry unique in its ability to employ a comprehensive energy approach that reduces waste, supports the grid, and combats energy price inflation.