Crypto Mining News Daily

Saturday, July 13, 2024
HomeWhite House's Push For Crypto Mining Energy Tax May Do More Harm...

White House’s Push For Crypto Mining Energy Tax May Do More Harm To Environment: Expert

-

The White House is pushing for a 30% tax on electricity used in crypto mining to minimize the industry’s environmental impact, which could drive mining companies offshore. However, venture capitalist and crypto personality Nic Carter argues that this tax could do more harm than good and drive miners to countries with higher carbon intensity for mining, such as China, Russia, Kazakhstan, Iran, Venezuela, and Malaysia. He believes that banning mining in the US would not reduce Bitcoin mining activities and would simply drive miners elsewhere.

Read more.

LATEST POSTS

Most Popular

Learn How to Mine Crypto

Join our mailing list and receive a free copy of Crypto Mining 101, our detailed guide on how crypto mining works, must have tools to get started, and how to be successful.

Note: We’ll never sell, trade, or abuse your information, and it’s simple to opt out! Read our Privacy Policy here.