A group of prominent Bitcoin miners is supporting the creation of the Bitcoin Voter PAC, which aims to back candidates favorable to cryptocurrencies and innovation in the USA.

Support for Crypto-Friendly Candidates

Organizations such as Riot Platforms, Clean Spark, and Mara Holdings are among those backing the Bitcoin Voter PAC. The PAC is focused on the 2024 elections, supporting candidates like Donald Trump and Senator Ted Cruz, whose views are well-regarded in the crypto industry.

Why Crypto Firms Focus on Selected Candidates

Regulation of cryptocurrency has become a key topic in the industry. The Bitcoin Voter PAC aims to promote fair regulations that do not stifle innovation. This need is driven by the dissatisfaction of some market participants who have faced stringent regulation from authorities like the SEC.

Fundraising for Campaign Support

The PAC's website calls for support through donations to fund election campaigns. It is reported that by September, crypto firms have invested over $190 million in the elections, aiming to ensure the election of industry-supportive candidates.

The participation of miners and crypto firms in the political process can significantly impact the future of cryptocurrencies and technology in the USA. The full impact of such initiatives, like the Bitcoin Voter PAC, is yet to be realized.