Mining PAC launches ad for Ted Cruz as early voting begins in Texas

A political action committee (PAC) backed by cryptocurrency mining executives has launched two ad spots for Republican candidates as early voting continues in the United States for the November election.

In an Oct. 21 X post, the Bitcoin Voter PAC said it was responsible for an ad supporting Texas Senator Ted Cruz as residents of the state began early voting. The ad spot claimed Cruz understood “embracing Bitcoin” without explicitly mentioning any of his opponent Colin Allred’s policies. 

Executives from crypto mining firms Marathon Digital Holdings, CleanSpark, and Riot Platforms form the board members of the Bitcoin Voter Project, an advocacy group launched in June to identify potential voters and influence crucial elections. According to Federal Election Commission records as of Sept. 30, the organization’s PAC had filed no contributions or expenditures in the 2024 election.

15 days until US Election

Early voting began in Texas on Oct. 21, allowing residents to choose between frontrunners Cruz, who has been in the US Senate since 2013, and Allred, who has represented Texas’ 32nd Congressional District since 2019. The PAC also funded an ad spot in Pennsylvania supporting Republican presidential candidate Donald Trump.

Related: Texas senator discloses up to $100K in BTC after blockchain endorsement

Many October polls showed Cruz with a slight lead over Allred in the Lone Star State, which has had two Republican senators since 1993. Cointelegraph contacted the Bitcoin Voter PAC but did not receive a response at the time of publication.

In August, the Texas Blockchain Council (TBC), a crypto and blockchain advocacy organization, endorsed Cruz for the US Senate. At the time, TBC President Lee Bratcher said the junior senator was knowledgeable about “Bitcoin as a tool for ensuring freedom and mining as a tool for grid stability.”

“We’re working with State Senator Nathan Johnson, who’s a Democrat, Representative John Bucy, who’s a Democrat,” Bratcher told Cointelegraph at the Permissionless conference on Oct. 10, on what an Allred victory could mean for the industry. “There’s no Democratic statewide officials in Texas right now unless Colin Allred wins.”

The TBC President added that though Allred was “pretty pro-crypto,” the group was supporting Cruz, claiming he was “unapologetically” pushing digital asset policies:

“We haven’t made that many other endorsements just because there’s not been a close race where crypto has played a major role.”

As one of the largest state economies in the US, Texas is home to several crypto mining firms, including Riot Platforms and Core Scientific. The state is also the center of many court battles involving crypto firms. Some companies seem to be looking to Texas for favorable judges when filing lawsuits against federal regulators like the US Securities and Exchange Commission. 

Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue