According to the forecast of the US Treasury, the introduction of the excise tax will bring the treasury an additional $10 billion. If Congress approves the 2025 budget in this version, mining companies will be required to report the amount and type of electricity they use. Miners will have to indicate the price of electricity, even if they purchased it externally.
Companies leasing computing power will be required to disclose the cost of electricity from the businesses that lease the power. The 30% tax will also apply to mining companies that produce their own electricity.
The first to report on the legislative innovation, Pierre Rochard, vice president of research at Riot Platforms, is confident that even those organizations that use solar or wind energy will suffer from the excise tax. The businessman believes that the levies will be introduced in order to “suppress the spread of Bitcoin in the United States and launch a central bank digital currency (CBDC).”
A similar point of view is shared by Republican US Senator Cynthia Lummis, who says the excise tax will destroy the mining industry.
Earlier, Fox Business senior correspondent Charles Gasparino said that the White House administration considers Bitcoin mining a threat to the normal functioning of the energy system.
Source: Bits

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