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Bitcoin

Riot Platforms, Marathon Digital, and CleanSpark, three of the largest Bitcoin mining companies in the U.S., have backed a new political action committee to support pro-crypto candidates in key swing states.
This committee, the Bitcoin Voter PAC, has launched a $2 million digital ad campaign aimed at Pennsylvania and Texas voters, <a href="https://www.foxbusiness.com/politics/bitcoin-miners-launch-ad-campaign-swing-states-boost-crypto-friendly-candidates" target="_blank" rel="noopener noreferrer nofollow">according</a> to Fox Business.&nbsp;
The PAC will promote Republican candidates such as former President Donald Trump, <a rel="noopener noreferrer nofollow" href="https://crypto.news/ted-cruz-bitcoin-is-a-reservoir-of-power/">Senator Ted Cruz</a>, and Senate candidate Dave McCormick. The ads focus on the benefits of Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) and digital assets, emphasizing their potential for job creation and financial freedom.
With support from major miners, the PAC seeks to influence races that could impact the $2 trillion crypto industry. The ads, primarily targeting social media platforms like X, are designed to appeal to voters who are less engaged with traditional media.
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<h2 class="wp-block-heading" id="bitcoin-and-crypto-spending-this-election-season">Bitcoin and crypto spending this election season</h2>
This election season has been marked by discussions of crypto policy and crypto donations. Crypto-focused PACs are <a href="https://crypto.news/from-donations-to-decisions-how-crypto-pacs-target-senate-races/" target="_blank" rel="noopener noreferrer nofollow">influencing</a> U.S. election campaigns by supporting candidates who advocate for pro-crypto legislation.&nbsp;
These PACs aim to counter anti-crypto 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 U.S. election <a href="https://crypto.news/crypto-donations-for-2024-u-s-election-hit-190m/" target="_blank" rel="noopener noreferrer nofollow">have surged to $190 million</a>, surpassing previous cycles.&nbsp;
In contrast, crypto donations in 2020 amounted to just $15 million, including a notable $5.2 million from Sam Bankman-Fried.&nbsp;Major contributors in 2024 <a href="https://crypto.news/winklevoss-twins-give-out-4-9m-to-fairshake-crypto-lobbying-group/" target="_blank" rel="noopener noreferrer nofollow">include executives</a> from Coinbase, Ripple, and Gemini, with donations largely supporting non-partisan groups and PACs.
Bitcoin mining has emerged as a key issue in states like Texas, where <a href="https://crypto.news/texas-provides-riot-31-7m-to-halt-bitcoin-mining-amidst-energy-crisis/" target="_blank" rel="noopener noreferrer nofollow">debates over power grid strain</a> continue. The PAC hopes to build broader support for Bitcoin mining as the election approaches, according to Fox Business.
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Major Bitcoin miners back pro-crypto PAC with $2m Campaign

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