Senator Cynthia Lummis releases report attacking Biden’s mining tax
The pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.
On July 23, Senator Cynthia Lummis released a report arguing against the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners.
The report, titled Powering Down Progress: Why A Bitcoin Mining Tax Hurts America, put the Bitcoin (BTC) mining industry into sharper focus, highlighting the benefits of the critical mining infrastructure to the United States’ energy grid.
Lummis cited the Bitcoin Energy and Emissions Sustainability Tracker as evidence that Bitcoin mining is cleaner than is commonly imagined, noting that up to 52.6% of BTC mining might be emissions-free.
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Author: Vince Quill
