The White House has formally suggested a 30% tariff on power used for crypto mining. The tax is a key part of the Biden Administration’s proposed budget for FY 2024. The administration’s tax strategy was outlined in a blog post on the White House website. Digital Asset Mining Energy (DAME)
Recent reports on Twitter have announced that Montana has legalized cryptocurrency mining within the state. In February of this year, the Montana Senate House passed the “Right to Mine” Bitcoin (BTC) bill with an impressive vote of 37-13. Also, this bill grants citizens of Montana the right to own and
U.S. President Joe Biden unveiled his proposed yearly budget recently. The president laid forth his plans for the next year. The proposal mentioned cryptocurrency mining in the context of the digital asset sector. In particular, Biden has proposed a 30% tax on all power used to mine Bitcoin and other
Fraudulent crypto mining operations are in no way escaping the regulatory radar of the US Securities and Exchange Commission (SEC). On March 3, SEC filed a lawsuit against Utah-based crypto mining firm Green United LLC for raising over $18 million in a fraudulent sale of crypto mining equipment and assets
Ministry of Internal Affairs of the partially recognized republic in northeastern Georgia said in a news release that police in Abkhazia are conducting daily searches to detect mining operations. That have been illegally linked to the power grid and examine previously shut down crypto farms. To prevent the import of
Peter Wall, CEO of Argo Blockchain, a prominent crypto miner, has resigned. Alex Appleton, the business’s CFO, left the company a little over a week ago. As stated in an official release, Peter Wall will be leaving his position as CEO of Argo Blockchain after three years of service. He
Due to the FTX breakout, the crypto lending platform BlockFi filed for chapter 11 bankruptcy protection on November 28, 2022. On Monday, the company got approval from the United States Bankruptcy Court for the District of New Jersey to hold an auction for its crypto-mining assets. The company wants to
Russian presidential advisors on the Energy Committee of the State Council have proposed a ban on cryptocurrency mining in residential zones. Local media have stated that members of the group think the change would make the community safer from fires. The plan is to outlaw cryptocurrency mining nationwide, or at
The Iranian government’s OCSSOP is giving back some of the mining hardware it confiscated during raids on underground cryptocurrency operations. According to the Financial Tribune, the Iranian courts issued the ruling. The country’s Ministry of Economic Affairs and Finance cited the organization’s chairman, Abdolmajid Eshtehadi as saying: “Currently, some 150,000
Celsius Network, a bankrupt cryptocurrency lender, has agreed to allow cryptocurrency miner, Core Scientific to shut down over 37,000 mining rigs, which it hosted for Celsius during the miner’s bankruptcy proceedings. After deciding to reject its contract in recent days, Core Scientific (CORZ) will shut down mining equipment connected to
