Digital Power Network Applauds Congressional Call to End Double Taxation of Bitcoin

FOR IMMEDIATE RELEASE

WASHINGTON, D.C. — The Digital Power Network (DPN), the leading voice for American Bitcoin miners and digital infrastructure developers, today expressed strong support for the letter sent by Congressman Zach Nunn (R-IA) urging the U.S. Department of the Treasury and Internal Revenue Service (IRS) to modernize outdated tax guidance on digital asset rewards.

The letter, addressed to Treasury Secretary Scott Bessent and Acting IRS Commissioner Michael Faulkender, calls for digital asset rewards, such as those earned through Bitcoin mining or proof-of-stake validation, to be taxed only upon sale or exchange, rather than at the moment of creation.

The effort was also signed by key Congressional leaders, including:

·      Rep. Tom Emmer (R-MN), House Majority Whip

·      Rep. Bryan Steil (R-WI), Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence

·      Rep. Byron Donalds (R-FL)

“We’re proud to support Rep. Nunn’s leadership in urging the Treasury and IRS to fix one of the most clear-cut tax policy failures facing the American digital asset sector,” said Hailey Miller, Director of Government Relations and Public Policy at the Digital Power Network. “Taxing Bitcoin at the moment it’s mined, before it’s sold, before there’s any cash in hand, creates an unnecessary burden and disincentivizes investment in U.S. energy infrastructure and innovation.”

DPN has been at the forefront of this issue, recently submitting formal letters in April and June to Treasury and the IRS on behalf of its member companies, urging an end to the double taxation of Bitcoin mining rewards. These efforts mark the most coordinated push yet by the U.S. mining industry for fair and modernized tax treatment.

DPN will continue to advocate for clear, innovation-forward tax policy that promotes American leadership in the global digital economy.

About the Digital Power Network
The Digital Power Network (DPN) is the largest coalition of Bitcoin miners and digital infrastructure leaders in the United States, representing over 50% of the domestic Bitcoin hash rate. DPN advocates for policies that promote energy innovation, grid resilience, economic development, and the strategic role of digital assets in the 21st century economy.