New York Proposes Electricity Consumption Tax on Bitcoin Miners
ChainCatcher news, New York State Democratic Senator Liz Krueger and Assemblywoman Anna Kelles have introduced a new bill proposing a tiered electricity consumption tax on bitcoin miners. Depending on electricity usage, the tax rate will range from 2 cents to 5 cents per kilowatt-hour, while miners using sustainable energy will be exempted.
According to research, cryptocurrency mining facilities have caused New York State residents to pay an additional $79 million in electricity bills annually, and small businesses to pay an extra $165 million. The tax revenue collected will be used to support the state's energy assistance programs for low-income households.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Strategy purchased 10,624 bitcoins for $962.7 million last week.
Strategy increases its holdings by 10,624 bitcoins, bringing the total to 660,624 bitcoins.
Last week, digital asset investment products saw a net inflow of $716 million.
Analysis: Fusaka Upgrade Facilitates Cost Estimation for Ethereum L2 Projects
Trending news
MoreCrypto prices
More
