• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

The White House’s Bitcoin Mining Tax Undermines Itself

Crypto Newsmart by Crypto Newsmart
2 years ago
in Crypto Updates
Reading Time: 1 mins read
41
VIEWS
Share on Facebook
The White House’s Bitcoin Mining Tax Undermines Itself

In fact, many miners who were using abundant hydro power in the Yunnan or Sichuan provinces moved to Kazakhstan, which has a highly fossil-fueled power grid. Today, the U.S. composes roughly 30-40% of global Bitcoin mining (the best data we have comes from Cambridge University, but it’s somewhat dated and imprecise). The most popular other countries are, in rough order, China (yes, despite the ban, there’s about  17% of hashrate in China), Russia, Canada, Kazakhstan, Indonesia, Paraguay, Norway and Venezuela. We also know that Bitcoin mining directly finances the governments of Russia, Iran, Venezuela and North Korea. These regimes use Bitcoin mining for sanctions evasion, to turn their mineral wealth into cash. Attacking domestic miners in the U.S. hashrate simply means that other miners are more profitable on net, because their share of the pie is bigger.



Source link

Related Posts

Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back
Crypto Updates

Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back

27 July 2025
TRON’s record-breaking performance in H1 2025 highlighted in Cointelegraph and CryptoQuant research reports
Crypto Updates

TRON’s record-breaking performance in H1 2025 highlighted in Cointelegraph and CryptoQuant research reports

24 July 2025
Bitcoin Darknet Giant Abacus Vanishes
Crypto Updates

Bitcoin Darknet Giant Abacus Vanishes

21 July 2025
SPX6900 Hits .89 New ATH – TOKEN6900 Is Where the Next 1000x Cult Begins, ICO Hits 0K
Crypto Updates

SPX6900 Hits $1.89 New ATH – TOKEN6900 Is Where the Next 1000x Cult Begins, ICO Hits $630K

18 July 2025
Federal Reserve clears US banks to custody crypto assets including Bitcoin
Crypto Updates

Federal Reserve clears US banks to custody crypto assets including Bitcoin

15 July 2025
Is the BTC Rally Driven by Spot or Leveraged Demand? Glassnode Weighs In
Crypto Updates

Is the BTC Rally Driven by Spot or Leveraged Demand? Glassnode Weighs In

12 July 2025

[convertful id="153816"]

by CurrencyRate.Today
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}