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New Arkansas legislation specifically targets Bitcoin miners, introducing targeted state taxes
Bitcoin miners are facing increasing regulatory scrutiny due to the energy-intensive nature of their operations.
The Arkansas Senate has passed legislation to impose fees on cryptocurrency miners in response to excessive energy consumption in Bitcoin mines, the Arkansas Times reported on April 15.
The proposed legislation introduces a tiered fee structure for the nascent industry. Miners with energy usage between 1 MW and 2.49 MW will be charged $25,000. Miners with energy usage between 2.5 MW and 4.99 MW will face a $50,000 fee. Miners using 5 MW to 10 MW will incur a $75,000 fee, while miners over 10 MW will pay $100,000.
The Arkansas Senate has passed legislation to impose fees on cryptocurrency miners in response to excessive energy consumption in Bitcoin mines, the Arkansas Times reported on April 15.
The proposed legislation introduces a tiered fee structure for the nascent industry. Miners with energy usage between 1 MW and 2.49 MW will be charged $25,000. Miners with energy usage between 2.5 MW and 4.99 MW will face a $50,000 fee. Miners using 5 MW to 10 MW will incur a $75,000 fee, while miners over 10 MW will pay $100,000.
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