US Senate Finance Committee Explored Benefits of Bitcoin Mining

Under this, Dennis Porter, co-founder, and CEO of the Bitcoin mining support group Satoshi Action Fund has conducted a presentation on the benefits of BTC mining. According to Porter’s tweet, he presented an educational briefing regarding the advantages of Bitcoin mining for Congressional staff on January 26 at the Senate Finance Committee hearing room. Following this, Dennis Porter shared a new tweet about the Bitcoin mining policy.

During the past week, Porter gave an elaboration on the benefits of Bitcoin for the environment, taxpayers, and local economy at the Mississippi Senate hearing. 

Bitcoin Mining Expands

In September, Dennis Porter and industrial experts conducted a presentation regarding the Bitcoin mining process and its environmental impact for the Commission on Cryptocurrencies and Digital Assets in New Hampshire. After analyzing the experts’ reviews, the commission has recently released its report.

The report conveys: 

The Commission recommends that the Governor and the Legislature direct the NH Department of Energy to conduct a public review of how bitcoin mining operations might be integrated into a statewide energy plan with positive impacts on the electricity system.

However, Chris Sununu, the Governor of New Hampshire, stated in a January 19 announcement that the commission had found that the legal and regulatory status of cryptocurrencies and digital assets was extremely ambiguous. That hampered development and resulted in less protection for consumers and investors.

At the same time, Bitcoin mining is expanding in more parts of the United States. According to recent reports, the U.S. will open its first nuclear-powered BTC mining center in Pennsylvania in 2023.