Major Bitcoin miners back pro-crypto PAC with $2m Campaign

Riot Platforms, Marathon Digital and CleanSpark, three of the largest US Bitcoin mining companies, have backed a new political action committee to support pro-crypto candidates in key states.

That committee, called the Bitcoin Voter PAC, launched a $2 million digital advertising campaign aimed at Pennsylvania and Texas voters, according to Fox Business.

The PAC will support Republican candidates including former President Donald Trump, Sen. Ted Cruz and Senate candidate Dave McCormick. The ads focus on the benefits of Bitcoin (BTC) and digital assets and highlight their potential for job creation and financial freedom.

The PAC aims to influence races that could impact the $2 trillion crypto industry with the support of major miners. The ads, which primarily target social media platforms like X, are designed to appeal to voters less interested in traditional media.

Bitcoin and crypto spending this election season

This election season has been marked by discussions on crypto policy and crypto donations. Crypto-focused PACs are influencing US election campaigns by supporting candidates advocating pro-crypto legislation.

These PACs aim to counter anti-cryptocurrency candidates and focus on key Senate races in Ohio, Montana, Maryland, and Michigan, hoping to create a more favorable regulatory environment amid growing public interest in cryptocurrency.

Crypto donations for the 2024 US elections rose to $190 million, surpassing previous cycles.

In comparison, crypto donations in 2020 totaled just $15 million; This includes $5.2 million from Sam Bankman-Fried. Contributors in 2024 include executives from Coinbase, Ripple, and Gemini, with donations largely supporting nonpartisan groups and PACs.

Bitcoin mining has emerged as a major issue in states like Texas, where controversy over power grid strain continues. According to Fox Business, the PAC hopes to build broader support for Bitcoin mining as the election approaches.