A political action committee (PAC) supported by executives in the cryptocurrency mining industry has released two advertisements endorsing Republican candidates as early voting takes place in the run-up to the November election in the United States.
The Bitcoin Voter PAC announced on October 21 that it had created an ad in support of Texas Senator Ted Cruz, coinciding with the commencement of early voting in the state. The advertisement highlighted Cruz’s understanding of “embracing Bitcoin” without explicitly mentioning any of his opponent Colin Allred’s policies.
The Bitcoin Voter Project, an advocacy group launched in June, counts executives from crypto mining companies Marathon Digital Holdings, CleanSpark, and Riot Platforms as board members. The group aims to identify potential voters and influence critical elections. Federal Election Commission records show that as of September 30, the PAC had not reported any contributions or expenditures for the 2024 election.
Early voting started in Texas on October 21, giving residents the opportunity to choose between Cruz, who has been a US Senator since 2013, and Allred, who has represented Texas’ 32nd Congressional District since 2019. The PAC also financed an advertisement in Pennsylvania supporting Republican presidential candidate Donald Trump.
Various polls conducted in October have suggested that Cruz holds a slight lead over Allred in Texas, a state that has had two Republican senators since 1993. Cointelegraph reached out to the Bitcoin Voter PAC for comment but did not receive a response by the time of publication.
In August, the Texas Blockchain Council (TBC), an organization advocating for crypto and blockchain, endorsed Cruz for the US Senate. At the time, TBC President Lee Bratcher stated that the junior senator had a strong understanding of “Bitcoin as a tool for ensuring freedom and mining as a tool for grid stability.”
Speaking at the Permissionless conference on October 10, Bratcher mentioned that the group was collaborating with Democratic State Senator Nathan Johnson and Democratic Representative John Bucy. He discussed the potential implications of an Allred victory for the industry, noting that there are currently no Democratic statewide officials in Texas unless Allred wins.
Although Allred is considered to be “pro-crypto,” the TBC is supporting Cruz, claiming that he is actively promoting digital asset policies without apology.
Texas, as one of the largest state economies in the US, is home to several crypto mining companies, including Riot Platforms and Core Scientific. The state is also at the center of numerous legal disputes involving crypto firms. Some companies appear to be seeking favorable judges in Texas when filing lawsuits against federal regulators such as the US Securities and Exchange Commission.