Biden's Budget Proposes 30% Tax on Crypto Mining, Stirring Industry Concerns
👉 Key Highlights:
Biden's 2025 budget includes a 30% tax on electricity for crypto mining
Phased introduction: 10% in year one, 20% in year two, 30% in year three
Applies to all forms of electricity, including solar and wind
Crypto mining firms must report electricity usage and value
Senator Cynthia Lummis warns it could harm the industry's US presence
Riot Platforms VP sees this as a move against Bitcoin and towards a CBDC
Biden's 2025 budget includes a 30% tax on electricity for crypto mining
Phased introduction: 10% in year one, 20% in year two, 30% in year three
Applies to all forms of electricity, including solar and wind
Crypto mining firms must report electricity usage and value
Senator Cynthia Lummis warns it could harm the industry's US presence
Riot Platforms VP sees this as a move against Bitcoin and towards a CBDC
👉 Why This Matters:
The tax could significantly impact the profitability and operational costs of crypto mining operations in the US.
The tax could significantly impact the profitability and operational costs of crypto mining operations in the US.
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Blakexxiii : he'll be gone by the end of the year, to be replaced with the person that has a track record of overturning these kinds of bogus legislations.
Bird007 : Let him worry about his position first!
102886247 Blakexxiii: replaced by trump?
Blakexxiii 102886247: yes
72812736 102886247:
Yacman72 Blakexxiii: Trump 2024