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Crypto Mining Electricity Excise Tax Should Target AI Instead

The Biden administration's proposed Digital Asset Mining Energy excise tax on electricity used for crypto mining is administratively unworkable and a bad use of political will and attention. Instead, if the goal is to offset climate change, there are cheaper, higher-value targets such as taxing the electricity usage of data centers and artificial intelligence. AI requires significant amounts of electricity, making it a good place to start an excise tax that can be baked into the cost of doing business and offset future demand on the grid. Retargeting the DAME tax on electricity usage by data centers more generally avoids market distortion and is infinitely more future-proof.

How Bhutan Has Been Silently Accumulating Sustainable Bitcoin for Years

The small, picturesque Himalayan nation of Bhutan has embraced Bitcoin, not only by accumulating cryptocurrency but also by using green energy to mine it.

Haru Invest Continues Expansion With Haru Mining, a New Crypto Mining Investment Product in Partnership with Pow.re

Haru Invest, a leading digital asset management platform, today announced the launch of its crypto mining product Haru Mining in partnership with Canadian crypto miner Pow.re.

US Presidential Candidate Robert Kennedy Jr. Criticizes Biden Administration's Proposed 30% Tax on Crypto Mining

Biden administration proposes a 30% tax on crypto miners to address climate change, which had also been mentioned in a tax plan in March.

White House Pushes for Punitive Tax on Crypto Mining

U.S. President Joe Biden is looking to impose a punitive tax on crypto mining operations for the “harms they impose on society,” the White House’s Council of Economic Advisers (CEA) argued Tuesday in an online post.

Argo Blockchain Slumps to Full-Year Loss on Bitcoin Price Slide

Argo Blockchain, the only U.K.-listed cryptocurrency miner, reported a net loss of £194.2 million ($240 million) for 2022 due to the falling price of bitcoin and increased mining difficulty, which drove up costs. The company avoided bankruptcy by selling its Helios mining facility in Texas to Galaxy Digital for $65 million and securing a new $35 million loan from Michael Novogratz’s crypto-focused financial-services firm, secured by its mining equipment. Argo Blockchain's interim CEO said the company has emerged stronger and in a more solid financial position. The news caused shares of the company to fall 3% in early trading in London.

What Are Crypto Whales

Crypto whales are individuals or entities who hold large amounts of cryptocurrency, having amassed their substantial holdings through early investments, mining, or other means.

Embattled Crypto Mining and Wallet Firm Poolin Moved $150M in Bitcoin

Poolin, a firm that runs a crypto mining pool and a wallet service, moved BTC 5,640 BTC ($150 million) from its main wallet on April 21, shows CryptoQuant data, around the time that the world's largest digital asset dropped to $28,000.

World Economic Forum Recognizes Bitcoin Mining’s Economic and Environmental Benefits

The World Economic Forum (WEF) has shifted its stance on Bitcoin mining, recognizing the economic and environmental benefits of the industry. In a recent video, the WEF highlighted how companies like Crusoe Energy are using excess natural gas from energy operations to power data centers and crypto mining operations. This helps mitigate waste and emissions that impact the environment while providing ultra-low-cost computing infrastructure. The crypto community has reacted positively to the WEF's shift in stance, noting that mining companies have switched to renewable sources of energy, making the process more sustainable. However, Bitcoin's price has been declining due to decreased trading volume amid selloffs and Friday's expiry.

Stronghold Digital Mining Announces $10 Million Private Placement to Fund Purchase of Bitcoin Miners

Stronghold Digital Mining has entered into securities purchase agreements with an institutional investor and the company's CEO, Greg Beard, to sell 9,000,000 shares of Class A Common Stock and share equivalents to the institutional investor and 1,000,000 shares of Class A Common Stock to Mr. Beard, at a price of $1.00 per share equivalent.