In the United States called the reasons for the introduction of a tax on light for cryptomining

US Presidential Administration explainedfor which it plans to introduce a 30 percent tax on electricity used to mine cryptocurrencies.

The new tax became known on March 9 from the planned US budget for fiscal year 2024. It is planned that from December 31, 2023 the tax will be 10%, after which it will gradually increase to 30% over three years. According to preliminary estimates by the US presidential administration, over 10 years of the tax on mining, the country’s budget will be replenished by $3.5 billion.

According to the administration, cryptocurrency mining pollutes the environment and also consumes “a lot of electricity with rising energy prices.” The tax will allow companies to “better consider the harm they cause to society,” according to the White House.

Intensive consumption of electricity by miners can also lead to an increase in electricity prices for the population and lead to unstable operation of power networks – equipment overloads and service interruptions are possible, the White House emphasizes.

Another reason to introduce such a tax is that the mining of crypto assets does not bring local and national economic benefits.

By data The New York Times, 34 mining farms in the US used as much energy as 3 million homes. The time period is not specified in the article. In 2022, about 50 billion kW of electricity were used for mining. The same amount is spent on powering all the computers in the US or lighting all the living quarters.