Why It Matters

CleanSpark Inc. faces three interconnected challenges threatening mining profitability: tariff exposure on specialized imported hardware, inconsistent banking access despite regulatory improvements, and unresolved federal tax treatment of mined Bitcoin. The company’s $80,000 Q3 lobbying push targets legislative solutions—tariff relief for mining equipment, federal banking clarity, and modernized tax rules ending "double taxation" of mined assets.

CleanSpark’s strategy reflects sophisticated positioning: hiring an in-house lobbyist with deep House Ways and Means Committee experience signals the company expects tax policy to be the decisive battleground. The timing matters because Congress is actively moving on all three fronts—tariff reviews are underway, the OCC is clarifying banking rules, and bipartisan Senate momentum exists for digital asset tax reform.

By the Numbers

CleanSpark Inc. has filed 11 lobbying disclosures since September 2024 with total expenditures of $520,000. The company employs a dual strategy: $410,000 in in-house lobbying across seven disclosures, and $110,000 through Squire Patton Boggs from April to October 2025.

The third quarter represents continued focus on in-house efforts, with $80,000 spent exclusively through registered lobbyist Margeaux Ries Plaisted. Plaisted brings strategic assets to CleanSpark’s team: she spent over three years as Executive Assistant to Rep. Jim Ramstad (R-MN), a senior House Ways and Means Committee member. Her post-congressional career includes representation spanning financial services, technology, and digital policy domains.

CleanSpark’s lobbying priorities remain consistent: banking reform and financial inclusion for digital assets, tax reform, trade policy, and tariff issues related to imported mining hardware.

The Agenda

CleanSpark Inc. is lobbying on five specific issues: financial inclusion for digital assets, banking reform, tax treatment of cryptocurrencies, trade policy for imported goods, and tariff issues affecting mining hardware.

The company’s priorities directly reflect operational pressures. CleanSpark depends on importing specialized computer chips (ASICs) for mining, making tariffs critical as U.S. import duties on mining equipment from Southeast Asia have surged to 21.6%, up from 2.6% historically. On taxation, the Senate Finance Committee held a dedicated hearing in October 2025 on digital asset taxation, with bipartisan momentum around legislation to end potential double taxation of mined assets.

Banking access remains contested despite progress. While the OCC granted conditional trust bank charters to five crypto companies in December 2025, major U.S. banks continue restricting financial services to crypto firms.

Broader Context

Bitcoin mining companies face competing opportunities and regulatory pressures. Tariff policy represents an acute threat, with mining hardware imports from Southeast Asia facing 21.6% tariffs and Chinese imports facing 57.6% total tariffs, forcing equipment manufacturers to establish U.S. production facilities.

Tax treatment has emerged as a congressional priority, with Republican lawmakers advancing legislation to eliminate "double taxation" of mined assets. The Trump administration signed the GENIUS Act into law in July 2025, marking the first comprehensive federal cryptocurrency legislation, while a Strategic Bitcoin Reserve executive order signals policymakers increasingly view domestic mining capacity as a national asset.

Between The Lines

Congressional activity on digital asset regulation is accelerating. The House Financial Services Committee held hearings addressing alignment of U.S. securities laws for the digital age, while the Senate Agriculture Committee discussed federal oversight of digital commodities.

Senators Bill Cassidy and Cynthia Lummis are collaborating on legislation creating a $300 de minimis exemption and ending potential double taxation of mined assets. Strategic Bitcoin reserves have bipartisan backing through the BITCOIN Act of 2025 and its House counterpart.

Competitive Landscape

CleanSpark navigates a crowded field of competitors lobbying on identical issues. Riot Platforms Inc. is lobbying on trade policy and mining equipment effects, while Bitdeer Technologies Group targets tariffs. The Digital Chamber is lobbying specifically on "ASIC Mining Equipment Trade Policy."

The convergence around trade and tariffs reflects an industry-wide crisis. Chinese ASIC manufacturers—controlling over 90% of global production—are establishing U.S. facilities to circumvent tariff costs.

The Bottom Line

By hiring Margeaux Ries Plaisted—a lobbyist with direct House Ways and Means Committee experience—CleanSpark is positioning itself for an increasingly favorable legislative environment. Republican-controlled Congress has advanced pro-crypto legislation including the GENIUS Act and established a Strategic Bitcoin Reserve.

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