US Crypto Miners Relieved as Proposed Tax on Mining Fails to Make It into Debt Ceiling Bill

06/03 13:45

The proposed Digital Assets Mining Energy (DAME) excise tax, which aimed to tax crypto miners based on the cost of electricity they used for mining, was not included in a bill to raise the U.S. debt ceiling. Critics argued that the tax could increase global emissions and force miners to move overseas. Although some believe the proposal may be included in future bills, some crypto firms have already started diversifying their operations due to the uncertain regulatory environment in the U.S. Marathon, a firm owned by Peter Thiel, has already begun diversifying its operations and has announced plans to build two new mining facilities in Abu Dhabi, which has a clear and pro-market regulatory regime.

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