The DAME tax on crypto mining introduced by President Biden is a commendable first step towards addressing the climate and community impacts of this energy-intensive activity– however, it is not a long-term solution. The detrimental effects of crypto mining like that of Bitcoin in particular on the environment and society are widespread and necessitate a fundamental change in its polluting and energy-intensive code it employs. Recognizing and regulating the industry is a positive sign of increasing awareness and resistance to Bitcoin mining s harmful practices but it is only the first step.
The recently proposed 30 percent tax on Bitcoin mining received new life this week when the White House Published a blog arguing for its implementation. The…
According to a graph that has been recently circulating online, the U.S. crypto mining energy consumption surpasses that of all the computers in the U.S.
The White House has proposed a tax on crypto miners for the energy they consume during mining operations, believing it will raise $3.5 billion in revenue over the next decade.